On the night of January 14, the first cryptocurrency showed significant growth – the bitcoin exchange rate exceeded $21,000, and the market capitalization exceeded $1 trillion.
Analysts believe that the growth of the cryptocurrency market is associated with macroeconomic factors. Not only the digital asset market grew, but also the stock markets of most countries of the world. This shows the interest of investors in risky assets, including cryptocurrencies.
One of the possible growth drivers for Bitcoin and other cryptocurrencies was the publication of the US Consumer Price Index (CPI). It shows that inflation in the world’s largest economy continues to slow down. And the slowdown in inflation usually leads to an influx of funds into stocks and cryptocurrencies.
Interestingly, although macroeconomic factors speak in favor of cryptocurrencies, the situation in the industry is rather bleak – the US Securities and Exchange Commission (SEC) has filed charges of unregistered securities trading against major cryptocurrency exchange Gemini and credit service Genesis. However, bitcoin continued to rise. Over the past 24 hours, the rate of the first cryptocurrency has grown by 11%, and over the week the growth was 23.5%.
Earlier, Bits.Media published a large-scale article about how long the uptrend for bitcoin and the largest altcoins can last.
Source: Bits
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