It’s been a rough few weeks for cryptocurrencies, but things are finally looking up! Cryptocurrencies that have fallen off their highs over the past three weeks appear to be on an upward trajectory again.

Crypto winter is thawing as crypto markets are showing some signs of life. For example, Bitcoin, which fell 52% from its November highs to a low of around $33,000, has gained 15% in the past seven days, and Ethereum, which dropped 55% from its all-time high, has rebounded 13%.

Related Reading | Bitcoin and Ethereum rebound signals ‘crypto winter’ thaw

January was a tough month for crypto investors. Still, Bank of America’s global strategist Alkesh Shah says he saw increased interest from people who want to invest or trade cryptocurrencies. He expects prices will rise throughout 2022 and into 2023 as more regulatory clarity emerges about digital assets like Bitcoin.

Bitcoin Price
Bitcoin price is steady at around $44,000. Source: BTC/USD on Tradingview.com

When it comes to risky assets, like equities and real estate Shah says that their prices can fluctuate wildly. But with crypto, there is one additional factor: the Federal Reserve’s announcement about possible rate rises in March could affect its value too.

According to Shah statement;

The market as a whole, and risk assets broadly, really weren’t expecting how many rate hikes are now being talked about.

Experts Predictions On Rate Hikes In 2022

The economy grows with each passing year, and inflation trends remain stable. This has led some experts to predict even more rate hikes in 2022. For example, Goldman Sachs’


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.