In the morning, the largest digital currency by market value on the Bitfinex trading platform cost up to 45,400 US dollars. This is the highest level since early January. Other crypto assets such as the number two in the market, Ether, also continued to gain.
All currently around 17,400 internet currencies currently have a total value of around 1.7 trillion dollars. Bitcoin accounts for a good 40 percent of this, Ether a little less than 20 percent. Both Bitcoin and the total market capitalization are far from their record values. Last November, a bitcoin was worth almost $69,000, and the market value of all crypto assets had risen to almost $3 trillion at the time.
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There don’t seem to be too many reasons for the current price gains. As a rule, digital values have a very high synchronization with the mood on the stock markets, since they are considered a risky investment. However, the mood on the stock market is currently prone to fluctuations, and the values of technology-oriented companies in particular are often under pressure at the moment.
The expectation of rising interest rates in many countries is also having a negative impact on the stock exchange. Interest-free assets like digital stocks usually suffer from this prospect. However, some market participants refer to “bargain hunters” who used the comparatively low prices of Bitcoin and other cryptocurrencies as an entry opportunity.
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FRANKFURT (dpa-AFX)
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