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<p class="MsoNormal">Bitcoin rose 1.1% on Monday, and on Tuesday morning, it "shot up" another 5.5%, adding 7.5% over the past 24 hours. This growth momentum has brought the price of the first cryptocurrency back above $20K, in stark contrast to the dynamics of falling markets and a strengthening dollar.</p><p class="MsoNormal">Ethereum added almost as much - 7% - rising to $1,385. Against this backdrop, total crypto market capitalisation jumped 5.5% to $970 billion, with top altcoins adding between 2.3% (XRP) and 8.1% (Solana).</p><p class="MsoNormal">According to CoinShares, investments in cryptocurrencies rose for the second consecutive week last week. Net inflows were $8 mln, Bitcoin investments were up $3 mln, and Ethereum investments were up $7 mln. Investments in funds that allow shorts on bitcoin were down $5 mln, the first decline in 8 weeks.</p><p class="MsoNormal">While the Dow Jones index closed at its lowest since November 2020, the Nasdaq100 turned to growth after nearing the lows of June, and cryptocurrencies showed a strong surge. The outperformance of the riskiest assets is more typical of periods of great monetary stimulus. Therefore, the most relevant question is whether we are now see ing the first signs of a market reversal or a trap for naive bulls.</p><p>News background</p><p class="MsoNormal">Bitcoin will continue to trade in a range of $17K to $25K, Glassnode expects. Intense US Federal Reserve monetary policy pressure and an unfavourable macroeconomic climate offset any essential positive developments in the crypto industry.</p><p class="MsoNormal">Dan Morehead, CEO of crypto hedge fund Pantera Capital, believes billions of people will use blockchain in the coming years, increasing the value of cryptocurrencies.</p><p class="MsoNormal">The SEC has demonstrated that it intends to "damage or destroy the cryptocurrency industry in the US", said LBRY, a decentralised content publishing platform.</p><p class="MsoNormal">Technology giant Apple has allowed the sale of collectable tokens (NFTs) in apps on its devices, but the commission will be 30%, sparking outrage in the crypto community.</p> This article was written by ForexLive at forexlive.com.

<p class="MsoNormal">Bitcoin is down 4.1% over the past week, ending near $18,900. Ethereum lost 5.8% to $1290. Other leading altcoins in the top 10 showed mixed dynamics, ranging from a 3.7% decline (Cardano) to a 27% increase (XRP). </p><p class="MsoNormal"> Total crypto market capitalisation, according to CoinMarketCap, declined by 2.4% over the week to $928bn. Cryptocurrency Fear & Greed Index fell by 3 points over the week to 24 ("extreme fear").</p><p class="MsoNormal"> Meanwhile, the cryptocurrency market became a safe haven compared to the collapse of major currencies and stock indices.</p><p class="MsoNormal"> The beginning of the week raises the question, what is behind the relative resilience of cryptos? This market could be forgotten for a while, as all the attention and capital flows are on flagship assets. Alternatively, it could manifest traders' inner confidence that peak fear is near and cryptocurrencies are already cheap enough for long-term investors.</p><p class="MsoNormal">News background</p><p class="MsoNormal">Former MicroStrategy CEO Michael Saylor said that bitcoin would surpass the $69K reached in November 2021 in the next four years. BTC could trade as high as $500K in the next decade if its market capitalisation equals that of gold. Judging by bitcoin's simple four-year moving average, its bottom is at $20K, Sailor suggested. Bitcoin's bear market has yet to reach its final stage, and investors should prepare for further declines. Some participants expressed this opinion in a Cointelegraph poll on Twitter.</p><p class="MsoNormal"> Ethereum co-founder Vitalik Buterin said all cryptocurrencies should switch to the Proof-of-Stake (PoS) algorithm. He believes that over the next 18 months, ETH will become much more scalable, which will significantly reduce transaction fees.</p><p class="MsoNormal">Ripple CEO Brad Garlinghouse disagreed with the SEC that Ethereum could be considered unregistered security after the move to PoS.</p> This article was written by ForexLive at forexlive.com.