The world's most popular cryptocurrency, Bitcoin, has broken even for the first time this year, Coin Desk reported. Find out more at 🚀 Engineering
. The altcoin has been on an upward trend for the past week, after crashing from its year-along highs in November last year.
Bitcoin, as well as other cryptocurrencies, saw a sharp uptick after the coronavirus pandemic began, a couple of years ago, evenduring this time. Bitcoin saw its values drop sharply towards the end of 2021 and while the currency is valued relatively higher than it was in its older past, investors and enthusiasts would be more interested in seeing it repeat its successes of 2021 and go beyond.
Experts believe that the cryptocurrency lost some of its shine early in the year and banks withdrew the fiscal stimulus measures that were taken during the pandemic. As the Russian war was about to unfold, fears about the use of cryptocurrencies toEarlier this month, cryptocurrencies began their upward march, alongside U.S.-based stocks.
Experts believe this week will see cryptocurrencies make more gains but warn of volatility as the quarter comes to an end, later this month. With the recent gains, Bitcoin is up 1.4 percent this year, while the S&P 500 has seen a 4.7 percent decline, Bloomberg said in its report. Stay ahead with the latest science, technology and innovation news, for free:
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