TREX Global: The cryptocurrency market is seeing signs of recovery

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On January 14, the market data showed that the price of Bitcoin broke through 21,000 US dollars, and the current price is 21,065 US dollars, an increase of 11.99% in 24 hours. Ethereum also traded higher, last quoted over $1,500 at $1,558, up more than 20% so far this year.

Bitcoin, the world's largest cryptocurrency by market capitalization, has been hovering around the $16,000 area since mid-December. At $20,250, bitcoin is up more than 20 percent in the first two weeks of the year. However, compared with the peak of breaking through $65,000 in November 2021, Bitcoin is still at the bottom of the bear market.

Benefiting from the recovery of the two leading players, the total market capitalization of cryptocurrencies broke through one trillion dollars again. Encryption-related stocks have also benefited from this week's gains, with Coinbase (COIN), the largest U.S. compliant encryption trading platform, up 39% this week, while bitcoin miner Marathon Digital Holdings (MARA) soared 76% this week.

In the past 2022, cryptocurrencies have experienced a tragic liquidation wave. Against the background of the Federal Reserve’s aggressive interest rate hikes, the downfall of FTX and Three Arrows Capital has caused the prices of cryptocurrencies to continue to fall. According to Wind data, in 2022, in the performance of major global asset classes, Bitcoin will rank the bottom with a 65.41% decline. When 2023 comes, the price of Bitcoin has hovered at the $16,000 mark for several months.

"There are still many uncertainties in the new year, but cryptocurrencies have basically bottomed out." A person in charge of TREX Global said: "The investment value of cryptocurrencies has gradually emerged."

TREX Global is established according to the laws of Saint Vincent and the Grenadines and has a US NFA financial license (License number: 0529711) and a FSC financial license (License number: C119023919). TREX Global support to global investors online trading with Foreign exchange, cryptocurrencies,Precious metals, Stock indexes, Crude oil and other diversified global financial symbols in 24h.

Since its inception in 2008, TREX Global has been highly favored by investors. It has grown into a large and well-known international investment company and become a true leader in the investment industry.

TREX Global has won widespread recognition among clients for its excellent products and services for years, for which it has received many honors and awards.

Like cryptocurrencies, U.S. stocks also ushered in a recovery. The S&P 500 rose 0.40%, the largest weekly gain in the past two months. The Dow Jones (34302.6094, 112.64, 0.33%) rose 0.33%. Nasdaq (11079.1566, 78.05, 0.71%) rose 0.71%. The Nasdaq 100 rose 0.71%, its sixth straight session of gains and its longest winning streak since 2021.

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