The prices of many cryptocurrencies rose significantly on Wednesday. Bitcoin, the oldest and largest digital asset by market value, rose by around eight percent to around $42,000 in the morning. Ether’s price rose similarly significantly to $2750. Observers explained the recovery primarily with the less gloomy mood on the financial markets. “As risk aversion on the markets wanes, crypto assets such as Bitcoin are also in demand again,” said expert Timo Emden from Emden Research. Since digital currencies are among the most risky assets, they often fluctuate with general market sentiment. Accordingly, the annual balance sheet of many crypto assets is negative. Bitcoin has lost almost 10 percent of its value since the beginning of the year. The ether price has since fallen by about a quarter.
Digital currencies – crypto recovers – economy
