Bitcoin has been the talk of the town lately, as it continues to show an upward trend amidst global economic uncertainties. This article discusses the latest news on Bitcoin and its impact on the crypto market, as well as highlights some of the key players in the industry. As a trader, it’s essential to keep up with these trends to make informed decisions when it comes to trading.
On April 11, 2023, Bitcoin broke through the $30K mark, indicating a bullish market recovery. The last time Bitcoin was above $30K was in June 2022, where it had been a point of resistance. The recent bullish trend may be attributed to concerns over the banking sector’s stability, which underwent a mini-crisis in March 2023. Analysts predict that Bitcoin will likely remain on an upward projection for the rest of 2023.
Since January, Bitcoin has been growing from strength to strength, logging an 81% gain since the start of the year. Inflation is beginning to ease up, increasing optimism in crypto as investors begin to make more speculative investments. Inflows into the sector continue, showing investors are gaining confidence in it. These gains are expected to hold until the end of the year.
One of the biggest developments around BTC is the recent investment by MicroStrategy, which bought 6.5K BTC for around $150 in March. This brings its BTC holdings to $4.14 billion. Despite its shares growing around 74% YTD, the company reported a $250 million loss in the last quarter. However, MicroStrategy’s bet on Bitcoin may pay off as signs of a Bitcoin bull run begin to show.
In other news, Intel has announced that it has halted its Bitcoin ASICs business. The company revealed its ASICs business in February 2022, intending to be a major player in the blockchain industry. However, the company has now shelved those plans.
As the crypto market continues to evolve, it’s essential for traders to keep up with the latest trends and developments. The recent bullish trend in Bitcoin is an indication of its growing importance in the financial world. MicroStrategy’s huge Bitcoin investment and Intel’s abandonment of its Bitcoin plans are just a few of the developments that show the industry’s dynamic nature. As a trader, you can take advantage of these trends and invest in Bitcoin through platforms like Apex Markets, which offer up to 100% matching welcome bonus to start trading. Keep track of the latest news and stay ahead of the curve in crypto trading.Visit Apex Markets to start trading forex, stocks, cryptocurrency, and more under the best conditions.