Bitcoin (BTC) 40% Up in 3 Weeks – What’s Up?

If you are a crypto fan, you might be used to market volatility. Cryptocurrencies have proven to be more volatile than other assets for retail investors. Crypto coins can rally to record highs within two days or plummet drastically in an unpredictable way.

Though that sounds like a risky game, expert investors know how to play with the trading waves to execute money-making deals.

Anyone interested in crypto investment needs to consider volatility. Let us take an illustration here, benchmarking ASX 200 Index from the Australian market. As far as 2021 is concerned, ASX 200 stays 13.0% high.

Though with slight fluctuations, the asset lost about 3% from its year to date. What about Bitcoin in that context? Well, BTC is around 47.5% high this year. However, crypto has seen wild movements, losing over 50% between April and July.

Meanwhile, Bitcoin has seen slight bullishness over the past few weeks. The leading cryptocurrency by market capitalizations managed to surge from $30,000 to $43,380 today, Monday.
That translates to around 47% increase in three weeks only. Keep in mind that the asset has registered such moves since 20 July.

It is not BTC that saw rises only. Ethereum, the second-largest digital coin by market cap, has seen massive rallies over the last few weeks. Ether managed to surge by a whole 68.7% to its value today during the same period.

That has had market players predicting the end of the bearishness that took over the market some months ago.

Technically, it seems like the crypto turmoil is over.

What’s Behind BTC’s Recovery?

As with anything to do with cryptocurrency, the current BTC rally seems untouchable. However, the crypto space has had remarkable developments that might be triggering positive sentiments. Recently, Motley Fool declared the possibility of a Britcoin launch. The Bank of England backs this digital asset. Such remarks might prove crypto legitimacy. Also, they could be cementing a floor for the next Bitcoin rally.

Remember, Bitcoin has had such reactions before. For that reason, any interested traders need to be careful when jumping to the BTC’s rising waves.

Good Luck!!!

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