🔥BITCOIN RECOVER
According to CoinMarketCap, the price of Bitcoin fell below $40,000 on January 23, 2024, and then rebounded to over $43,500 on January 30, 2024, corresponding to an increase of more than 8%.
There are a number of factors that may have contributed to this rebound, including:
• The global stock market has rebounded during this time. The S&P 500 index has risen more than 5% in the past week, which could have led to an increase in investor confidence in risky assets, including Bitcoin.
•There is positive news that the United States may soon approve a Bitcoin exchange-traded fund (ETF) that trades in spot. A spot Bitcoin ETF would allow investors to buy and sell Bitcoin on traditional stock exchanges, which could lead to an increase in demand for Bitcoin.
•Investors may be buying Bitcoin to hedge against inflation. Inflation in the United States is at its highest level in 40 years, and some investors may be turning to Bitcoin as an inflation hedge.
However, it is important to note that the price of Bitcoin is still volatile and could continue to rise or fall in the future.
