Cryptocurrency Market Recovers; Bitcoin Increased 6%, Ethereum Increased 7%

Cryptocurrency leader Bitcoin (BTC) rose 15% last week, while Ethereum, the second on the list, rose 22%.

After weeks in the red, crypto leaders Bitcoin and Ethereum are showing signs of recovery. Bitcoin, the world's largest cryptocurrency by market capitalization, rose nearly 10% last week to $22,314, according to CoinMarketCap data. BTC rose 6% during the day on Thursday. At the time of writing, the Bitcoin price was at $21,323. In addition, Ethereum, one of the leading coins, has also seen a significant increase of up to 19% in the last seven days, reaching $1262. At the time of this news, the Ethereum price was trading at $ 1208. Looking at the cryptocurrency market in general, Solana seems to be following the small-scale rally, up 4%, Polkadot 5%, Cardano about 3% and Dogecoin 3% in the last 24 hours. According to crypto analysts, Bitcoin is moving in tandem with the NASDAQ, which is up 5% in the last five days. In addition, the recent sell-off of bankrupt firms such as Three Arrows Capital, which created a "local bottom", may also have played a role in this small rally. According to analysts, the forced sales that came with the bankruptcy of 3AC certainly contributed to creating a bottom that caused the price to rise, while the forced sales in the Bitcoin mining industry continue to affect the cryptocurrency market. According to analysts, the difficulties experienced by miners and forced sales may be over. If so, the price may stabilize around $ 20,000 for a while. Source: Limenya.com The investment information, comments and recommendations contained herein do not constitute investment advice. Investment advisory services are provided on a personalized basis, taking into account the risk and return preferences of individuals. The content, comments and recommendations contained herein, which are in no way directive in nature, are of a general nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in line with your expectations.