Over the past few days, Bitcoin, Ethereum, and some other digital assets have shown steady growth. Thanks to this, the total capitalization of the cryptocurrency market exceeded $1 trillion for the first time since June 13.
On Monday, Bitcoin rose by more than 5%, due to which its rate exceeded $22,000, which is the best indicator since the beginning of last month. At the time of this writing, one bitcoin was worth about $23,230 (data from the CoinDesk platform). Ethereum surged over 12% on Monday to around $1,500. Currently, the second most popular cryptocurrency in the world is trading for around $1,566 per coin. Following bitcoin and “ether”, the rate of many other cryptocurrencies began to grow.
The mood of investors often corresponds to the state of affairs in the market. It is likely that if the growth of Bitcoin and Ethereum continues, this will be able to attract more investors back to the cryptocurrency market and help stimulate a wider recovery in this segment.
In recent months, the cryptocurrency market has been experiencing a difficult situation, as a result of which the total capitalization of digital assets has significantly decreased, and some large cryptocurrency companies, such as Celsius, Voyager Digital, and Three Arrows Capital, have filed for bankruptcy. The news of the bankruptcy, combined with the fall in the value of popular cryptocurrencies, has led to a significant decrease in investor confidence in this sector. This may change if bitcoin and Ethereum maintain a positive momentum going forward.