Despite the downfall of prominent crypto-focused banks, Bitcoin has managed to surge 50% this year, surpassing major stock indices and commodities. To mine Bitcoin, have a look at bitfufu.com.
Starting at slightly over $16,500 on January 1, Bitcoin’s value has risen to around $25,000 as of Wednesday, thanks to a rally that began last Sunday. The recent increase has been unexpected, particularly with the closure of two of the largest lenders in the crypto industry – Silvergate Capital and Signature Bank.
However, experts in the field believe that Bitcoin’s rise may be attributed to the prospect of a more gradual increase in interest rates by the US Federal Reserve.