Home Business Crypto rally is back, among investors confidence in bitcoin & co is back.

Crypto rally is back, among investors confidence in bitcoin & co is back.

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Crypto rally is back, among investors confidence in bitcoin & co is back.

Rally week for cryptocurrencies which recorded double-digit rises. Above all, the + 31% of ethereum stands out in the last 7 days, bitcoin also very well with approximately + 13%.

eToro talks about a confidence rally for the crypto asset market: The average of trades on the eToro platform is at the highest level of the last three months and the number of trades has increased by 79% compared to last week. Cryptocurrency investors appear to have regained some confidence, with the number of new open positions in cryptocurrencies up 79% from last week (Monday to Wednesday this week compared to Monday to Wednesday last week). The total value of the new open positions also dwindled, increased by 129% in the same period.

On Wednesday, the average trade value for a new open position was the highest since April 8 this year, while in the past few days, the average daily value of new open positions increased 180% from the rest of the month. July. The surge in sentiment follows a small price rally this week for the two major crypto assets.

“Cryptocurrency prices have recovered from their June lows, following equities higher as investors are calmer on the outlook for economic growth. But markets aren’t off the hook yet and need to see a sharp drop in U.S. inflation for this bear market rally to become sustainable.“, He remarks Gabriel Debach, market analyst at eToro.

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