Bitcoin price bounce .
Markets this year have been battered, uncertainty is high and the US government has stepped in in recent days to bail out two major US banks. So why is bitcoin, considered the most dangerous of all, rising so fast?
BITCOIN HAS SOARED MORE THEAN …………………. ?
Bitcoin has since soared more than 60% and it climbed another 8% Friday above $27,000, all in an era of mass layoffs in the tech sector and widespread anxiety about stability in the U.S. banking sector.
so what is going on ………..
The pandemic has been an era of great growth for tech and crypto businesses. This increase started to decrease at the end of 2021 as people started to travel, go out to restaurants or watch concerts. They spent less time in front of the screen and at the same time government research that allowed people to get money began to decay. Crypto begins to fall with technology. Moreover, in March 2022, the Federal Reserve Bank of America started inflationary pressure, its most powerful weapon to fight inflation, which started rising rapidly
This sent the price of bitcoin into a slump. High interest rates mean that safe-haven assets like Treasurys have become more attractive to investors as their yields have risen, dimming the light of high-growth companies and other risky assets. This includes bitcoin.
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Bit coin price in rupees 22,46,116.85INR USD 27,306.70