Home » Bitcoin (BTC), Ether (ETH)… The crypto market is picking up steam

Bitcoin (BTC), Ether (ETH)… The crypto market is picking up steam

by Patricia

The bear market that the crypto ecosystem has been experiencing for many months seems to linger. But in recent days, the major crypto currencies are showing notable gains. Is this a short respite or a lasting trend

The crypto market is picking up steam early this year

While 2022 is likely to be known in the future as a particularly tough year for cryptocurrencies, it’s unclear what 2023 will hold. For now, the year is off to a pretty good start price-wise, as Bitcoin (BTC), Ether (ETH) and their peers have been showing an uninterrupted rise in recent days.

King Bitcoin in particular has shown notable form since 1 January, with successive rises taking it above $18,300:

BTC price rises year-to-date

BTC price rises year-to-date


The price of Bitcoin has risen +6% over the past night. The largest cryptocurrency hasn’t reached this price since early November, when the FTX case sent the entire price plummeting. Although BTC has yet to reach the promised land of $20,000, the rise is still notable: the last time it had such a succession of days in the green was in July 2021.

Ether follows, other altcoins too

Ether (ETH) also has a nice breakout overnight

Ether (ETH) also has a nice breakout overnight


Other altcoins are also showing similar gains. For the week, Binance’s BNB is up 9.9%, Ripple’s XRP is up 7%, and Cardano’s ADA has seen a significant breakout at 21%.

While this breath of fresh air in the crypto market is welcome, it may not yet bode well for a sustainable rise. Analysts seem to be divided on the subject. Bloomberg believes that BTC will do well in a recession. But institutional investors remain pessimistic, and they often set the tone.

Still, this notable breakthrough in cryptocurrency prices is bringing optimism to the market. A feeling they haven’t experienced much since the fall of FTX, and the weeks that followed.

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