Bitcoin Approaches 106,000 US Dollars, Ether Jumps 8 Percent, Crypto Defies Moody’s Shock
The bull market for cryptocurrencies was seemingly not affected by shocking news from Moody’s. Bitcoin climbed to a new historical high of 106,000 US dollars. Ether also showed strength with an 8 percent increase.
Bitcoin with Unbroken Upswing
The development of Bitcoin since the beginning of the year is nothing short of impressive. Over 400 percent up since January, the mother of all cryptocurrencies is attracting the attention of private and institutional investors alike. Recently, the price even approached the mark of 106,000 US dollars, marking a new historical high. Speculation about upcoming approval of ETFs based on Bitcoin is seen as a potential price driver.
Ether in Top Form
While Bitcoin attracts most of the attention, the second-largest cryptocurrency by market capitalization, Ether, is enjoying considerable popularity. In the last 24 hours alone, Ether recorded a price increase of 8 percent. Experts see the current momentum as a signal that Ether could also be on the verge of new price records.
Moody’s Shock Has No Effect
What floods the headlines: major rating agency Moody’s has triggered shock with a downgrade in the credit rating for three leading banks in the US. However, this event seemed to have no noticeable impact on the crypto market. Quite the contrary: the macroeconomic uncertainty could even drive more money into cryptocurrencies, believe market observers.
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