One of the reasons for the rise of the world’s major cryptocurrencies was the strong results from Amazon, which boosted investor confidence in technology stocks.
Bitcoin: Bitcoin’s biggest leap in three months has been recorded. Indeed, after a turbulent week in the financial markets, investors have again hinted at a new risk appetite. The world’s largest cryptocurrency rose 9.4 percent to $ 40,426 in market value, the biggest jump since October 15. It was below $ 40,000 for more than two weeks. At the same time, 11 percent energy was recorded in the ether. The Solana blockchain’s native currency has risen nearly 10 percent, with significant declines due to recent wormhole project hacks.
Amazon Inc. Its strong results increase support
One reason for the jump to the top cryptocurrencies was Amazon Inc. Strong results from, which have boosted investor confidence in digital token tracking technology stocks over the past few months.
In addition, reports suggest that hiring was suspended last month due to a record increase in COVID-19 infections and business closures. At the same time, rising wages have put pressure on the Federal Reserve to raise interest rates.
Post Office Scheme: How to open Kisan Bikash Patra at Post Office, find out the details
Investors are more confident to be involved in risk trading
“In fact, Amazon’s results are consistent with those of AAPL, Microsoft and Google, which makes investors more confident in their risk-taking business,” said Matt Malley, chief marketing strategist at Miller Tobacco Company.
Stephen Allett, chief executive and co-founder of the institutional crypto platform FRNT, says Bitcoin seems to be consolidating near the 200-day moving average on the equity line. In the last two days, Bitcoin has somehow coincided with the fall of Facebook and then the power of Amazon, according to Alette.
“Despite today’s rally for technical reasons, I don’t think we can say anything beyond $ 40,000 to $ 41,000 until at least a decisive breakout,” he said.