Crypto markets grew in $14 billion

It seems that the Fed‘s announcement of drastic expansion of economic rescue was enough to make crypto markets feel secure

Market capitalization of global crypto market grew up almost $14 billion during last 24 hours. The digital currency now involves more than $180 billion, a value bit lower that GDP of the Czech Republic. The growth was supported mainly by Bitcoin.

Yet, not so long ago – in first half of March, we experienced crypto market massacre, when value of its market capitalization dropped almost in half to around $90 billion. Everything’s forgotten already and digital money return to its deserved place. The rally was very likely caused by Fed’s announcement, in which the American central bank had stated it was ready to support the U.S economy as never before.

According to analysts, crypto currencies can benefit from the current pandemic crisis. In comparison to regular money, crypto currencies have many advantages. For example, crypto mining is given in advance, which protects the value from inflation. Moreover, bitcoin halving should take place in about two months and will lead to further mining slowdown. Given the current high demand, even higher growth in market capitalization of virtual currencies may be expected.

author avatar
EditorialTeam
The Trader-Magazine.com EditorialTeam is a collective of certified financial analysts, active traders, and cryptocurrency experts. Our mission is to transform complex market data (forex, equities, indices) into accessible financial education. All content undergoes rigorous, multi-level fact-checking to ensure we deliver only accurate, objective information for your trading and investment decisions.

Top 10 financial instruments for 2022. What will their prospects be in 2023?

The year 2022 has brought countless surprises and obstacles...

Telegram scams: how they work and how to protect yourself

Telegram has become one of the most widely used...

Trump Saved TikTok from a Ban. The App in the U.S. Moves into American Hands

TikTok narrowly avoided a ban in the United States...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

WASHINGTON — A top financial regulator is opening a...

Golden Brokers Review

Golden Brokers Limited was founded in 2018, it is...

Siemens’ Quarterly Profit Beats Estimates as the Company Benefits from AI-Related Demand

German industrial conglomerate Siemens increased its profit from industrial...

Sell Stop Orders: How They Work, When They Trigger and Where They Fail

A sell stop order allows investors to automatically sell an asset...

German Authority Investigates PayPal Over Possible Restriction of Competition

The online payment system PayPal may be engaging in...

Airbnb Could Earn More From the Same Booking

Airbnb plans to bring car rentals and partner services directly into its platform. With AI customer support reducing overheads, the company aims to earn higher profits from existing customer bookings.

Over-the-Counter Markets: How OTC Trading Works Outside Centralized Exchanges

Over-the-counter (OTC) trading allows investors, financial institutions, and companies...

Maersk’s profits grew, but a return via Suez may squeeze margins [1]

Maersk posted an operating profit of USD 3.3 billion...

Shooting Star Candlestick: How to Read It Without Trading the Shape Alone

A shooting star candlestick can warn that an upward...
spot_img