New Delhi: Bitcoin made a decent recovery on Thursday (December 24) to jump back to the $51,000 level after more than two weeks, allaying concerns over the seriousness of the new COVID-19 version – Omicron excited by.
Following a global bullish trend, bitcoin rose 4.5% on Thursday, marking one of its best days in nearly a month. The digital coin was trading on gains in Asia on Friday and trading above $51,000.
On the other hand, Ether, the second most popular cryptocurrency in the world, was trading at around $4,100, up nearly 4%.
The jump in bitcoin price comes after the benchmark 10-year Treasury notes yield hit Thursday’s close of 1.4926, up more than a one-week high of 1.5010% earlier in the session, as investors turned to government bonds as part of the risk appetite. On Mood, according to a Reuters report.
Trading patterns in bitcoin, the world’s largest cryptocurrency by market capitalization, are increasingly aligning more with the risk-on and risk-off movements of traditional markets. Read also: NPS: Get Rs 50,000 monthly pension after retirement, get this way
One of the major reasons behind cryptocurrencies like bitcoin following traditional market moves is the growing influence of institutional investors in the crypto world. So far in 2021, bitcoin has jumped almost 76%, just for a third year of gains. Read also: Delhi government directs pay hike for select teachers, check if you are eligible
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