Why Is the Crypto Market Rising Today?

Why Is the Crypto Market Rising Today?

Cryptocurrency market observed a strong recovery in the year 2023 after the crypto market witnessed a slight downside due to the global macroeconomic situations and inflation data. In the beginning of the new year 2024, BTC rose to a high at $45,208 and the world crypto market capitalization is trading at $1.74 trillion as of Jan. 03, 2024. The rise happened as expectations of a consent for exchange traded funds to invest in the largest cryptocurrency token intensified.

The leading coins of the crypto market – Bitcoin and Ethereum – showed incredible stability at the start of the year and have been trading in green with a marginal rise. Let’s have a look at the important reasons that have turned the cryptocurrency market hopeful in 2024 and what approach investors should have in this unanticipated crypto rally.