At the auction on Tuesday, the value of the first cryptocurrency shows a steady growth of 6%. At one point digital gold has jumped the $41,400 mark.
Throughout the day, the virtual asset market was recovering after a spectacular decline the day before. Yesterday, bitcoin collapsed to $38,500, updating the local low in mid-March, but today the coin has easily won back the fall.
According to Binance, the largest exchange in terms of trading volume of virtual assets, over the past 24 hours BTC has gained 5.83% in value and is trading at $41,480. % - up to $41,504.
Since the beginning of April, the quotes of the first cryptocurrency have been below market forecasts amid negative events in world markets, as well as the conflict between Russia and Ukraine. So, during the current month, bitcoin has already fallen in price by almost 9%.
According to the results of the first quarter of 2022, the cost of digital gold lost 1.5%. At the same time, the past March was a rather favorable period for the asset, as a result of which it reported growth by 10%, having strengthened for the second consecutive month.
Recall that bitcoin lost more than 16% in January, and its price increased by 12% in February.
The BTC updated its historical record in November 2021, soaring above $69,000. Since then, the cryptocurrency has moved into a steady decline.
According to the results of the past year, the cost of bitcoin increased 1.6 times - to $46,200 from $28,900.
Experts call the Russian-Ukrainian conflict the main downward factor for the digital currency market today. Analysts are confident that the sooner the tense geopolitical situation begins to stabilize, the more confident the digital asset market will feel in the short term. After reaching peace agreements, the economy will need to be restored, which will require a lot of money. One of the components of this tangible amount of funds will be cryptocurrency. In this case, the digital asset market will receive a spectacular impetus and rush to growth.
On Tuesday, the leading altcoins from the top 10 by capitalization willingly adopted the trend of the main virtual asset and also began to effectively increase in price. As a result, over the past 24 hours, the Ethereum token has grown by 4.5%, Solana by 6%, and Terra by 14%.
According to the world's largest virtual asset data aggregator CoinGecko, over the past day, the total capitalization of the crypto market has grown by 4.5% to $1.89 trillion.
