• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
safe haven asset
Nexo Logo

Bitcoin As Safe Haven Asset On The Spotlight As BTC Crosses $43K

Jet Encila by Jet Encila
6 months ago
in Bitcoin, Crypto, Technical analysis
Reading Time: 2 mins read
Advertisement

According to figures from Coinbase and Coindesk, cryptocurrency values have risen nearly as swiftly as they fell, with some analysts referring to Bitcoin’s capacity to act as a safe haven asset during times of global turmoil.

The cryptocurrency market cap reached $1.7 trillion today, indicating that the broader crypto industry has rebounded nicely.

Bitcoin is active today, trading at $43,232.38, up by 14.40% since Monday. It is within the boundaries of a bullish trend that may affect the cryptocurrency market until the coming weeks.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

BTC posted a high of $43,760.46 and a low of $37,585.36. Its market capitalization at present is $820.17B.

Related Article | Bitcoin Staggers After Putin’s Nuclear Deterrence Alert Warning

As for Ethereum, it also showcased bullish trends with a current price of $2,919.47, which also had an 11.69% increase in the past 24 hours.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

It has highs reaching $2,972.33 and lows of $2,571.94; its market capitalization is on a high note, at $343.74 billion.

Safe Haven Asset Tested

The impact of Russia’s invasion of Ukraine was felt by markets worldwide. The Bitcoin market was not spared, with its market capitalization dropping below $1.5 trillion.

However, as evidenced by Tuesday’s positive price increase, Bitcoin has recovered enormously.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

Greater volatility in the global cryptocurrency market will undoubtedly increase as the war continues, resulting in substantial increases in the prices of Bitcoin and Ethereum.

Thanks to a last-minute rebound seen earlier today, the cryptocurrency market has recovered from its earlier losses. Bitcoin hit a critical support zone, resulting in a buying frenzy among crypto investors that signaled the rally’s start.

BTC total market cap at $823.41 billion in the daily chart | Source: TradingView.com

Related Article | Criminal Whales Hold $25 Billion In Crypto Assets: Chainalysis Report

Heavy Liquidations

According to Coinglass data, 94,769 traders liquidated in the last 24 hours, totaling $439.61 million. Longs accounted for $155.45 million, or 35.36% of the total, with shorts accounting for the balance.

It also showed that most liquidation happened during the close of trading of the New York Stock Exchange Friday, and the start of the Asian Exchange when the price of Bitcoin soared dramatically.

Ruble Collapses, Bitcoin Up

After a stunning price increase that coincided with a significant drop in Russia’s currency, Bitcoin now has a higher market valuation than the Russian Ruble.

A significant increase in traffic yesterday as Russians race to trade their rubles for cryptocurrencies as the fiat currency falls under harsh economic penalties could be one of the reasons for the russian crypto exchange failing offline.

Meanwhile, some analysts said that this is an indication that cryptocurrencies are being used to transport money across borders and as a means to safeguard and store the value of money when traditional currencies fail.

Featured image from MSN, chart from TradingView.com
Tags: bitcoincryptoethereumrussiaukraine
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Jet Encila

Jet Encila

Freelance writing is Jet's other cup of tea. When not on his computer, he unwinds with a bottle of beer and laughs with his son over cartoons. Other than that, he's just like everybody else who wants to be happy with their life.

Related Posts

TA- The Price Of Axie Infinity Struggles Despite Crypto Relief Rally

TA- The Price Of Axie Infinity Struggles Despite Crypto Relief Rally

7 hours ago
Taro Taro Taro

Lightning Speed: Taro Wants To Abolish Cross-Border Payments, Disrupt The Market

15 hours ago
TA- Price Of Cardano Bounces From Support, Gears For A Bullish Run

TA- Price Of Cardano Bounces From Support, Gears For A Bullish Run

15 hours ago
Cardano

Cardano Price Sits Pretty At $0.5, Why A Breakout Is On The Horizon

1 day ago
TA – Harmony (ONE) Price Shows Bullish Signs – Eyes $0.04

TA – Harmony (ONE) Price Shows Bullish Signs – Eyes $0.04

1 day ago
Bitcoin Is An alternative To Economic Condition, Says CEO Of Franklin

Bitcoin Is An alternative To Economic Condition, Says CEO Of Franklin

1 day ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Earn Rewards From Quilvius Using Bitcoin

August 13, 2022

Gnox (GNOX), Sandbox (SAND) and Decentraland (MANA): The Most Promising Investments in 2022

August 13, 2022

Here’s What Arab Investors Are Buying Right Now! Uniglo (GLO), Fantom (FTM), Bitcoin (BTC) And Spookyswap (BOO)

August 13, 2022

LBank Exchange Will List RedEyesMovement (REM) on August 15, 2022

August 13, 2022

As Nearly 75% of Retailers Plan to Accept Crypto, Watch Out for Dogecoin and HachiFi

August 13, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.