Cryptocurrencies rose on Friday after a sharp sell-off on Thursday, in which about $ 150 billion disappeared from the market after Russia’s invasion of Ukraine.
Bitcoin, the world’s largest cryptocurrency, has surpassed $ 39,000 and is close to $ 40,000 ($ 39,639). Bitcoin fell as much as $ 34,338.57 on Thursday.
Other cryptocurrencies, including ether ($ 2,711) and XRP ($ 0.71), also made steady gains.
Thursday’s sell-off was triggered by Russia’s invasion of Ukraine, which brought shares down on world markets.
Bitcoin price movement has more recently been closely linked to other risk assets, such as stocks, as more institutional investors are now involved and short-term investors have entered the market trading Bitcoin like other stocks.
Source: Capital
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