Bitcoin price surge
Cryptocurrency price on July 12: Bitcoin falls below $57k; Solana, Polkadot tank up to 5%
Ethereum remains a stalwart in the cryptocurrency space, with its price remaining relatively stable at INR 348,999.0, showing a marginal change of -0.9%. But, following the Dencun upgrade, ETH has declined 11.17% in the last seven days. Ethereum’s technical rating remains very bullish, indicating confidence in its underlying fundamentals. With a 3-month performance of 73.69, Ethereum continues to be a frontrunner in the development of decentralized applications and smart contracts, attracting both developers and investors alike. Hits bitcoin crypto Still, bitcoin's resurgence comes as welcome news to crypto investors, many of whom saw their assets plummet in value in 2022 after the collapse of FTX and other crypto exchanges. As the world's largest cryptocurrency, both in terms of trading volume and most mined, bitcoin is often looked to by financial analysts as a gauge of the overall health of the crypto industry.
Why crypto is up
Bitcoin price 2021-24 XRP skyrockets 80% in volume amid $400 million crypto bloodbath As illustrated in the graph below, Bitcoin’s 1st halving occurred in early 2012, when the Bitcoin ecosystem was small, fragile, and volatile. See source here.Virtual Reality
It comes, as the previous high did, as a 'halving' event approaches, whereby Bitcoin production is cut by 50%. How We Make Money Stay connected via
Crypto spike
That said, investors who are interested in gold investing should carefully assess their risk tolerance, investment goals and overall portfolio diversification strategy before making any decisions. While Bitcoin and gold represent distinct asset classes with different risk profiles, the current market conditions emphasize the importance of a well-balanced and diversified investment approach. And, in times of uncertainty, having a mix of assets that respond differently to market dynamics can help safeguard investors against the inherent volatility of financial markets. In common with many other investments, the cryptocurrency had suffered a massive fall as the pandemic receded in 2022. But just as the fall was sharp, the recent rise is steep, as stock markets overall have grown amid optimism over declining inflation and expected interest rate drops. But it is exactly the self-reinforcing dynamic, and the lessening of regulations, that has Kelleher worried. Every time crypto has risen, it has fallen back down. Kelleher points out that during the last crypto crash, there was almost no contagion with the rest of the financial system, because regulators had kept the crypto industry at an arm's length. “What we’re going to be seeing over the next months and years is increasing interconnections with the core of the financial system,” he says. “So the question is, how broad will the connections be? And will the crypto crash bring down the financial system, just like derivatives brought down the financial system in 2008?”Previous Posts - Twitter: @Bitcoindia
