Bitcoin's total market cap reached $450 billion
In the first twenty days of the year, the crypto money market continues its upward momentum. The total value of the cryptocurrency market has risen above $1 trillion 50 billion for the first time since November.
The rally in cryptocurrencies continues. The industry's leading cryptocurrency, Bitcoin, rose by 10% to $23,370 as of Friday evening. In Ethereum, $ 1680 zones were seen. With Bitcoin, where the rise has exceeded 40% since the beginning of the year, the crypto money market continues to be the most profitable investment tool of the new year. The most important reason for the rise is the recovery in the global risk appetite.
Bitcoin's total market cap reached $450 billion
Global markets left 2022, the worst year since the 2008 financial crisis, and entered 2023 with an upward trend. Developing and developed country indices gained more than 10% in the first three weeks of the year. The main reason for this is the softening of recession pricing. Although recession is still the main expectation for the European and US economies in 2023, the expectations in the degree of harshness have eased considerably. On the US side, a soft recession in 2023 has become the main scenario and this expectation is fixed. On the other hand, the crypto money market, which has been negatively differentiated from the Luna – Terra and FTX crises, has entered the new year with hope and seems to have left the pricing effects of these crises behind.
With Bitcoin exceeding $22,500, the total market value of the leading cryptocurrency, which has reached its highest level in four months, has reached 450 billion dollars. The total value of the cryptocurrency market has risen above the $ 1 trillion 50 billion level for the first time since November. The most important developments to be followed this week in the crypto money market, where the positive outlook continues in the short term, will be Tesla's fourth quarter balance sheet, which will be announced on Wednesday. It is a matter of curiosity what kind of action Tesla took in the last quarter of 2022, which sold 75% of its Bitcoins in its previous balance sheet. In addition, the US 4th quarter growth data on Thursday and personal consumption expenditure data from the US on Friday will be on the market's radar.
