Crypto Market Pops to $2 Trillion, Will the Rising Continue?
The crypto market is doing well at the moment and is back at a value of $2 trillion, the question is whether the rise will continue or stop.
The past few months were not really good months for cryptos. All trading platforms showed red numbers and Bitcoin, among others, lost a lot of value. Digital currencies have been on the rise again for a few weeks. Although they are currently down.
Crypto Market Taps $2 Trillion
The reason that the crypto market is again reaching this value is because Bitcoin and Ethereum are rising sharply. You then see that investors regain confidence and (also) invest in other currencies. As a result, the market as a whole rises.
Bitcoin has been standing at $44,063 and the rise looks set to continue. The overall market recovered and regained nearly $90 billion. This equates to a 14% increase in two weeks for Bitcoin. The second largest currency, Ethereum, has also risen over the past few weeks and is now near $3,000. The rise in digital currencies has resulted in a total market value of more than $2 trillion.
News Canada
The cryptos have found their way back up. It seems that bad news has little or no effect on sentiment. The bad news was that Canada made a decision to enact the Emergency Act of 1988. This is to tackle the protested truck drivers of the ‘Freedom Convoy’. They protest against the far-reaching corona measures in the country.
The Canadian Government move this step in order to be able to take various measures, including the freezing of bank accounts of protesters. This also includes digital currencies and their accounts. However, it seems that the digital currencies are not suffering from this.
