DeutschIn recent weeks, various crypto news outlets have shown that Bitcoin has risen in price. This price increase has brought about a positive change in the sentiment of the entire crypto industry. After the question arose as to whether crypto would ever recover, recent developments have shown that token prices have risen and trading volume has also increased. This article highlights factors that confirm this trend.
Confidence in Crypto is Rising Again
After the FTX exchange collapsed, confidence in crypto also declined. FTX, as the second-largest crypto exchange at the time, also received attention in the mass media, but enough time has now passed that the effects of the collapse are diminishing and the crypto world is getting back on track. Crypto users have slowly regained confidence in crypto.
A second factor is the long-term confidence prospects of investors. Interest rates have not yet been raised to curb inflation. As a result, investors have regained their confidence and were willing to continue investing in cryptocurrencies and technology. It is also possible that the FED will reverse the interest rate hike in the coming months, which would strengthen interest in and confidence in Bitcoin.
The prolonged bear market has resulted in the value of assets, including Bitcoin, falling over this time. So-called Hodlers continue to hold on to their assets without selling, and continue to increase their portfolio with currencies and coins that have fallen in value but are still considered a promising investment due to their intended use and history. As the number of crypto users continues to rise, owners of popular currencies are likely to “hodl” longer, thus driving up the value of the coins further.
Meanwhile, the price of the top cryptocurrency has consolidated, and its market dominance is also slowly but surely increasing. Bitcoin is reportedly expected to exceed $1 million per coin within the next 10 years. One reason for the growing popularity of cryptocurrencies is that they offer more useful options for financial inclusion, especially for those with internet access and a smartphone, as opposed to traditional banks, which can be difficult to access.
Therefore, if you are still looking to get into cryptocurrencies or are looking for a reliable exchange, ProBit Global is the place to be. There’s also more crypto news in our weekly newsletter.
Read more now on CoinPro.ch
