Many crypto experts weвЂ™ve spoken to over the last few months have been expecting one last major plunge for the crypto market, with some targeting a bottom of anywhere between $10,000 to $14,000 for bitcoin. Ethereum has been up more than 50% over the last few days and was trading above $1,600 on Wednesday. Typically, the more confident investors feel about the stock market and the broader macroeconomic environment, the more risk theyвЂ™re willing to take on.Д«itcoin rose above $24,000 on Wednesday, hitting its highest level in more than a month. He says investors are beginning to feel more optimistic about the economy, inflation, and rising interest rates, which is a positive sign for risky assets. Often, a rise in stocks will also lift cryptocurrencies. Moya is referring to the rising stock market in recent days and a general calming of macroeconomic fears among investors.

ThatвЂ™s according to Edward Moya, senior market analyst at brokerage firm Oanda, who says вЂњWall Street is enjoying a positive risk-on mood that is good news for cryptos.вЂќ He says the crypto market is starting to look вЂњattractive now that the economy is looking a little better as expectations for Fed tightening eased.вЂќ If bitcoinвЂ™s price stabilizes over the next two weeks, the prolonged crypto bear market - also known as crypto winter - could end as quickly as it started. For more information, see How We Make Money. Some links on this page - clearly marked - may take you to a partner website and may result in us earning a referral commission. We want to help you make more informed decisions.

Price minbox