Bitcoin has pumped above $40,000! This could be due to the strong results from Amazon where as the $AMZN share rose by almost 16% as a result. Causing more a renewed confidence in tech stocks and a direct effect on the price of BTC. In the last 10 days Bitcoin rose by almost 24%.
The rise of Bitcoin
After hitting another all-time high of nearly $70,000 in November 2021, Bitcoin has performed poorly in recent months dragging the rest of the market with it. But Bitcoin managed to rise above $40,000. Whether this actually means Bitcoin is running up to new highs another great time for Bitcoin is coming is, of course, open to question.
Opinions are divided. One camp thinks that we are going to see another rest test around $30,000 first, where others assume that we are going to see a period of nice increases. Of course, we all hope for the latter, but nothing is certain. It’s very hard to say at this point.
In any case, this rise in Bitcoin has ensured that many altcoins have had another green week. We have also been able to give some very nice calls in the VIP group this week.
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