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Bitcoin Surpassed 90 Thousand Dollars After 1.5 Months: Movements in Altcoins Are Starting! - Koin Bulletin
Bitcoin (BTC) surpassed the 90,000 dollar level, while Ethereum (ETH) and other altcoins also started to gain value.
Bitcoin has attracted attention by surpassing $90,000 after the global economic uncertainties and the Japanese yen (JPY) exceeded the 140 level against the US dollar. Analysts indicate that BTC's recent price movements may suggest a break in the downtrend and a potential for further gains.
Bitcoin managed to stay above the $90,000 level on Tuesday morning. The Japanese yen surpassed the psychological 140 level against the US dollar, while gold prices also rose to a record level of $3,494/ounce. These developments indicate an increased demand for safe-haven assets. Despite the selling pressure in global markets, Bitcoin continues to demonstrate strength, remaining a safe haven for risk-averse investors.
The recent price movement of Bitcoin is causing investors to reevaluate BTC as digital gold. Following the peak of gold prices, it is anticipated that bitcoin may also exhibit similar performance. Analysts indicate that bitcoin staying above the 50-day moving average could be a precursor to new upward trends.
The rise has begun in Ethereum and altcoins
Ethereum (ETH) and other altcoins are showing small rises in parallel with Bitcoin. While Ethereum continues to trade between critical levels, small increases are also observed in altcoins like Cardano (ADA) and XRP.