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Cryptocurrency prices..Bitcoin and its sisters recover glories

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Cryptocurrency prices rose today, Wednesday, March 16, 2022, with the price of Bitcoin (the most famous worldwide) jumping 3.55%.

The market value of cryptocurrencies increased at the start of trading today Wednesday by 3.26%, reaching a volume of 1.77 trillion dollars, registering a trading volume during the last 24 hours that amounted to 87.52 billion dollars .

3 reasons behind the rise of Bitcoin

Recently, Bitcoin has been exposed to many obstacles, in particular the MICA law to establish a new regulatory framework for crypto assets, including Bitcoin and Ethereum, which would prohibit the use of major currencies in Europe, with a sharp drop for most. of the main currencies.

Add to this the executive order issued by US President Joe Biden on crypto and digital, with stock prices falling, after announcing continued high inflation in the US and global geopolitical uncertainty.

Also, the regulatory restrictions and bans placed by some countries on cryptocurrencies, notably China, Malaysia, Turkey, India, and Egypt.

But on the other hand, the “crypto” market, especially the most famous digital currency in the world, “Bitcoin”, receives strong support thanks to 3 reasons: hedging digital currencies against global inflation, and the second reason is the start of negotiations between Russia and Ukraine for a ceasefire and consequently the risk appetite of investors has returned, and finally the tendency The Federal Reserve (US central bank) to raise interest rates, which lost gold (a safe haven for savings) and prioritized investment in stocks, cryptocurrencies and bonds (short term).

Bitcoin price today

The price of the world’s largest and most famous digital currency “Bitcoin BTC” jumped at the time of writing to hit the $40,218.35 level, an increase of 4.73% from the last closing price, and the market value increased to reach 754.079 billion dollars.

The highest level Bitcoin reached on November 10 was $68,992.

Cryptocurrency rates today

The price of Ethereum (ETH) rose 5.99% to a record high of $2,673.45.

Ripple XRP price increased by 2.75% to levels of $0.7702.

The price of the Terra Luna coin LUNA/USD fell by 1.89%, to record levels of $89.33.

The Cardano coin price rose by 2.85% to register at $0.8108.

Solana price rose 5.35% to the $83.46 level.

And Polkadot price gained 7.31% to levels of $18.36.

Dogecoin DOGE/USD gained 2.75% at $0.1144 levels.

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