Bitcoin above $20,000 again: cryptocurrency prices are rising

Dhe overall better mood on the financial markets also caused the prices of crypto assets to rise before the weekend. On Friday morning, many digital systems increased noticeably. Bitcoin, the largest digital asset by market value, surged back above $20,000. A price of $20,830 was marked at the high, which corresponds to an increase of almost $1,500 or about 7 percent on the previous day.

Other crypto assets such as Ether or XRP increased to a similar extent as Bitcoin. The market value of all around 20,900 digital systems rose back above the one trillion dollar mark. The record value of almost three trillion dollars, marked in November 2021, is a long way off. "Bargain hunters are on the prowl again," says analyst Timo Emden from Emden Research. "It remains to be seen whether the recovery attempt will be sustainable."

This week, many digital currencies came under pressure in the course of a predominantly gloomy mood on the stock exchanges. The correlation between general market sentiment and crypto prices is high, as digital assets are considered particularly risky investments. If the mood on the traditional financial markets deteriorates, this often pulls the still young crypto values ​​down with them. The latter are already known for particularly high price fluctuations.

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