Today, Bitcoin prices jumped 6.24% to $22,401 as the cryptocurrency market begins to recover. This comes after Bitcoin reached its year’s low of $16,496 on January 1st. Ethereum prices also rose 5.66% to $1,639.2, with a total market cap of over $107 billion. While there is still a long way to go before all-time highs are reached again, this is certainly good news for the crypto community!
Bitcoin jumped to its highest price in more than two months on Thursday, as traders bet on a U.S. inflation cooldown and digested news of a massive crypto asset find. Bitcoin surged 8.4%, rising above $19,000 for the first time since November 8th. This was accompanied by source data showing that consumer prices had declined 0.1% monthly, while still increasing 6.5% year-over-year – far lower than a 9.1% peak rate in June. Investors are now hoping that this retreat may lead the Federal Reserve to pursue more accommodative policies, resulting in Bitcoin’s growth spurt.