The cryptocurrency market is back in the swing of things. The price of each Bitcoin exceeded 30 thousand dollars. Which is highest in last 2 months.
This information has been found in a report of Business Recorder citing news agency Reuters . It is said that on Friday (October 20), the price of one bitcoin rose above 30 thousand dollars. This is the first time since last July that the price of the crypto rose so much.
Overall, Bitcoin’s price has increased by more than 10 percent in the past week. However, there has been volatility in the cryptocurrency market.
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Bitcoin is the main currency of the digital market. The price of which has risen to 30 thousand 22 dollars on the business day in question. Which is the highest since last July 23. The currency rose by more than 4 percent in just one day.
Joseph Edwards, head of research at London crypto firm Enigma Securities, said there was no immediate news catalyst for bitcoin’s rally.Global financial markets have been under pressure in recent times. The Palestinian-Israeli war has dampened investor sentiment.
Meanwhile, the benchmark 10-year yield has risen more than 5 percent. In addition, there has been concern about the possibility of interest rates at the world’s major central banks remaining too high for a long period of time.
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