BTC Regained Control After The Price Reached $45,000

BTC regained control with the price reaching $45,000 and Ethereum also increased having had a solid week so let’s read more in today’s latest Bitcoin news.

BTC regained control as it continues moving upwards after struggling for ways and nearing the $45,000 level which is a 1% increase over the past day and a 19% increase over the past month. The last time Bitcoin was priced above this level was at the start of February according to the data from Coingecko. The number one cryptocurrency struggled to hold the $40,000 over the past month and started following the equities market.

The US Stock market is up as well with the S&P 500 index heading up for a weekly gain of 1.4% and NASDAQ with a gain of around 2%. BTC in the past week increased by 6% and ETH is up on the day by 1% as it traded for $3,136 and it is up a fair notch in the past week as well by over 11%. BTC has long been referred to as the digital gold by some commentators and seen as a safe haven asset that will be secure when every other investment has a hard time. It is struggling to serve the purpose that other assets in the traditional space are seen as safe haven as they often perform better than BTC.

On the market, a lot of it is in the red looking at the 24-hour performance and some bigger players like Cardano which is down by 5.2%. Terra which is a  popular network for DEFI products is down by 0.5% and hit a price of $93.25 but both made some strogn gains in the past week and increased by 31% and 6.8% respectively. The rest of the market tends to follow BTC when ti does well and it has had a decent week thanks to the Wall Street announcement with Goldman Sachs being the first bank to make a crypto transaction and launching an OTC transaction by buying the OTC BTC NDO From Galaxy Digital. Some thought that it led to a surge in confidence from investors that see big money and interest coming to form the established players as a good reason to get stuck in and put cash in crypto.