December 2, 2022

CEX.IO company blog | Cryptocurrencies have risen sharply since the beginning of the year

Over the past week, a number of cryptocurrencies have accelerated in price from 10 to 50%. Bitcoin, being with the mark of $ 33,000, has risen to the level of $ 37,000 and continues to grow. Many altcoins also showed growth dynamics. As of February 5, Bitcoin is trading at $ 38,000.

Yuri Mazur, head of the data analysis department of the international crypto broker CEX.IO Broker, shared with the Izvestia newspaper the main reasons for the growth of cryptocurrencies and the forecast of the bitcoin rate for the future.

Institutional capital inflows into the sectordigital assets will continue to be present. In the long term, this will lead to higher prices for electronic currencies. After the correction of bitcoin at the level of $ 19,000-20,500 with a new wave of growth, its price may reach $ 42,000.

The main reasons for the sharp rise in prices for the top 10 cryptocurrencies since the beginning of 2021 are the continuing demand for bitcoin and the lagging behind altcoins in terms of relative growth rates.

Read the full material here.

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