THE bitcoin rises this Saturday (5), maintaining a movement started on Friday (4) after technology shares in the United States perform well with earnings announcements. With that, the world’s leading cryptocurrency reversed a downward trend, and surpassed $40,000 for the first time in two weeks.
At around 11:27 am, bitcoin was up 2.12% at $41,596, after closing Friday with an advance of more than 10%. The rise also favors other cryptocurrenciescase of Ethereumthe second most traded, which rose about 2% this Saturday, surpassing the US$ 3 thousand mark.
The rally follows a rally in the tech sector on Friday after a significant pullback after the disappointing meta resultsowner of Facebook, which had one of the biggest losses in value in history after reporting that it lost users of the social network in 2021.
Positive results from other companies, such as amazonPinterest and Snap helped the index Nasdaqfocused on tech stocks, up 1.58% for a weekly gain of 2.4%.
Bitcoin started a downward trend in late November, which extended through December and January, with the cryptocurrency leaving the $50,000 mark and approaching $30,000. Among the factors for the retreat are the expectation of high interest rates in the United States, which attracts investment flows to the country’s fixed income and increases aversion to risk assets, and threats of restrictions on mining and use of cryptocurrencies by countries like Russia and India.
With information from Reuters
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
