截至发稿，比特币稍有回落，现报61280美元。Cryptos have recovered and risen after a large sell-off earlier this week. Bitcoin broke through $62,000 on Friday.
Cryptos rebounded from the heavy sell-off earlier this week and Bitcoin broke through $62,000 on Friday.
According to data, earlier Bitcoin rose nearly 12%, rising above $62,000, far above the support level of $55,000 for most of this year. Ethereum surged over 14%, approaching $2,700. On Wednesday, Bitcoin and Ethereum also once led the decline in the cryptocurrency market and related stocks.
As of writing, bitcoin has slightly fallen back and is now trading at $61,280.
As of Thursday's close, the stock prices rose 7.50% and 9.07%, respectively. Both continued to rise after hours. $Coinbase (COIN.US)$Asia Vets and New Energy Fund.$MicroStrategy (MSTR.US)$Stock prices rose by 7.50% and 9.07% respectively. They continued to rise in after-hours trading.
As the yen carry trade was unwound, leading to deleveraging in the market, and US Treasury yields rose due to concerns about an economic recession, the market seemed to be trying to find a foothold after Monday's plunge. Bitcoin fell below $50,000, down from last week's trading price approaching $70,000. However, concerns began to emerge in the market after weak July employment reports were released last week.
"Over the next month or two, the macro economy will dominate," said Ryan Rasmussen, an analyst at Bitwise Asset Management. "From the escalating tension in the Middle East to the collapse of the yen carry trade, to concerns about a U.S. economic recession, everyone is wondering when the other shoe is going to drop."
"August is traditionally seen as a volatile month for cryptocurrency trading," Rasmussen said. "Until these concerns wane, most institutional investors are likely to prioritize their stock portfolios over the 1% to 5% of their assets allocated to cryptocurrencies."
"Multiple forces and reactions are causing lateral rebounds in the cryptocurrency market," said Chris Kline, co-founder and CEO of Bitcoin IRA. "Cryptocurrencies continue to be demoralized primarily because investors are watching to see if the Fed will cut interest rates and if this adjustment is just a flash in the pan or will lead to more concerns."
Bitcoin has risen nearly 44% since the beginning of the year.
Editor/ping