LAST UPDATE: 23.19
Bitcoin is recovering over $ 20,000, which yesterday “reached” $ 17,749.
In particular, right now, according to investing.com, Bitcoin is up 13.19% in the last 24 hours and is moving at $ 20,203.6. At the same time, Ethereum strengthened by 22.60% and is moving at $ 1,114.22. However, the two most popular cryptocurrencies in the world are falling more than 26% and 25% respectively in the last 7 days.
The “dip” in the cryptocurrency market came in part from pressure from macroeconomic forces, such as rapid inflation and successive Fed interest rate hikes. It also does not help that cryptocurrency companies are laying off large numbers of employees and some of the industry’s most popular names are facing bankruptcy.
Bitcoin hit a record $ 68,789.63 in November, while Ethereum hit a record high of $ 4,891.70 the same month.