Crypto followers are pointing to Amazon’s strong performance, which has boosted investors’ confidence in technology stocks again. This works out well for digital currencies, whose prices have been moving reasonably in line with tech stocks in recent months.
Experts also speak of a technical recovery, after the sharp decline in recent months. On November 11, bitcoin hit a record price of nearly $70,000. According to them, the effect of the accelerated phasing out of support by central banks, which leads to higher interest rates, has already been discounted in crypto prices.
Bitcoin has now hit the USD 40,000 – USD 41,000 resistance. In the event of a breakthrough, the price could clearly rise further, according to technical analysts. On the other hand, a drop to $35,000 is foreseen after a bounce.