On Monday, Bitcoin exceeded $47,000.
This Monday, Bitcoin took almost 4% in market value. At $47,881, this is its highest level since the start of the year. This propulsion has rounded its year-to-date gains to around 3%.
The Bitcon goes up the slope
Until recently, Bitcoin and other cryptocurrencies followed a downward trend. Like other riskier assets, it had faced a tough time. And this, especially at the time of the sale of American technology stocks.
However, last weekend Bitcoin broke above $45,000. So, after a fortnight of price growth and a broader boom in the cryptocurrency market, the cryptocurrency gained 15% in a single week.
Against this backdrop, the MVIS CryptoCompare Digital Assets 100 Index, which tracks the performance of some of the biggest digital assets, was up more than 5% at 12:04 p.m. in New York.
A domino effect
In the aftermath, the value of Ethereum, Dogecoin and Polkadot have increased by around a third in the past fortnight. For its part, the open source blockchain Cardano jumped 50%.
Furthermore, even though Bitcoin has taken its total market capitalization to over $900 billion, it remains around 30% below the peak reached at the end of 2021. As a reminder, it had reached $69,000 in market value last November. Likewise, the overall value of the cryptocurrency market has risen back above $2 trillion, which is still far from its peak value.