Developments around the FTX exchange have helped Bitcoin's value

The collapse of the FTX cryptocurrency exchange has shaken the community and the value of individual cryptocurrencies significantly. However, according to CNBC, lawyers managed to secure $5 billion that belonged to the bankrupt exchange. The information benefited the rise in the value of Bitcoin, which rose above USD 18,000 after a month.*

During Thursday's trading day, the price of the cryptocurrency climbed to USD 18,200, reaching its highest level since December 14, 2022.* The reason for this was the securing of the aforementioned money, which, according to the lawyers, gives hope for a pay-out to the clients of the second-largest cryptocurrency exchange, which went bankrupt in November.

 

FTX's lawyers said on Wednesday that they had found the money in liquid assets, including cash and digital assets. They also warned that selling those assets could put pressure on the market and knock down their value.

 

As the market has been for a long time in a downtrend, or so-called bear trend (a bear trend is defined as when prices fall 20 percent from their highs), Bitcoin's value has been in a downtrend for more than a year. This is due to a number of events that have negatively impacted the capital markets and have also influenced events in the crypto segment - from the war in Ukraine, through the energy crisis, the rising inflation, to central banks raising interest rates.

 

On the other hand, experts assume that the worst is over. The positive sentiment persisted on the cryptocurrency market during Friday's trading day, when Bitcoin's value crossed the $19 thousand mark, according to Coinmarketcap.com.*

ftx

Graph: Historical development of the value of Bitcoin. (Source: Coinmarketcap.com)

 

Olivia Lacenova, Chief Analyst at Wonderinterest Trading Ltd

 

 

* Past performance is no guarantee of future results.

Ovaj tekst predstavlja marketinšku komunikaciju. To nije nikakav oblik investicijskog savjetovanja ili investicijskog istraživanja ili ponuda za bilo kakve transakcije financijskim instrumentima. Njegov sadržaj ne uzima u obzir individualne okolnosti čitatelja, njihovo iskustvo ili financijsku situaciju. Prošla performansa nije jamstvo niti predviđanje budućih rezultata.

Upozorenje na rizik: Upozorenje na rizik: CFD-ovi su složeni instrumenti i imaju visok rizik od brzog gubitka novca zbog financijske poluge. 92.59% računa malih ulagatelja izgubi novac tijekom trgovanja CFD-ovima s ovim ponuditeljem.Trebali biste razmotriti razumijete li kako CFD-ovi funkcioniraju te možete li si priuštiti preuzimanje visokog rizika od gubitka novca.