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Bitcoin (BTC), Ether (ETH)… The crypto market is picking up

The bear market that the crypto ecosystem has been experiencing for many months seems to be lingering. But in recent days, the main cryptocurrencies have shown notable progress. Is this a short respite or a lasting trend?

The crypto market picks up at the start of the year

If 2022 should be known in the future as a particularly difficult year for cryptocurrencies, it is not known what 2023 will bring. So far, the year is off to a pretty good start from a price point of view, with Bitcoin (BTC), Ether (ETH) and their comrades shows an uninterrupted rise in recent days.

King Bitcoin in particular has shown notable form since January 1, with successive rises who took it over $18,300 :

The price of BTC has been rising since the beginning of the year

the Bitcoin price one taken +6% during the night that has just passed. The biggest cryptocurrency had not reached this price since the beginning of November, when the FTX affair sent all prices plummeting. Although BTC has not yet reached the promised land of $20,000, this rise is still notable: the last time it had such a succession of days in the green was in July 2021.

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Ether follows, the other altcoins too

Other cryptocurrencies are not left out either. Ether (ETH) shows +11% over the week, and exceeds 1,400 dollars this morning. He also had a nice link last night, taking +7% in the space of a few hours:

ETH Ether price

Ether (ETH) also offers a nice breakthrough tonight

Other altcoins are also showing similar progressions. Over the week, Binance’s BNB posted +9.9%, Ripple’s XRP +7%, and Cardano’s ADA has seen a substantial breakthrough, at +21M. In total, the capitalization of cryptocurrencies

If this breath of fresh air on the crypto market is appreciable, it may not yet bode well for a lasting rise. On this subject, analysts seem divided. Bloomberg estimates that BTC will manage to hold its own in a period of decline. Corn institutional investors remain pessimisticand they are the ones who often set the tone.

Still, this notable breakthrough in cryptocurrency prices brings a wind of optimism to the market. A feeling they hadn’t experienced much since the fall of FTX, and the weeks that followed.

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Source: CoinGecko – Chart: TradingView

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