Bitcoin price rises

The Bitcoin course is rising. At the same time, many cryptocurrencies are catching up with the market leader. BTC is rapidly approaching $30,000 while Ethereum is approaching $2,000. At the time of writing, 99 of the 100 largest cryptos are already clearly in the green.

Bitcoin price rises: 30,000 USD mark will be recaptured?

The Bitcoin price is rising again. As of press time, the largest cryptocurrency is up 9 percent on the daily trend, rising to $29,800. The $30,000 mark is fast approaching.

After Bitcoin leads, most of the crypto market follows suit. At the time of writing, all of the top 100 cryptocurrencies are already in positive territory. Only Toncoin is still very slightly in the red at 0.03 percent at the time, but will probably join the bullish mood soon.

The second largest cryptocurrency, Ethereum, is also rising significantly again. The Ethereum course increases by 7.25 percent in the daily trend. The coin is currently trading at $1,950. Here, too, a significant mark is approaching with the limit of 2,000 US dollars. 

Just a few days ago, the crypto market was in the red and thus said goodbye to the positive sentiment. The entire market is now up 6.60 percent.

First cryptocurrencies explode

The first cryptocurrencies have already exploded in the last few hours. The winner of the day is the Render Token (RNDR), which takes on the role of a means of payment in the network of the same name. Buyers can rent GPU power to render intricate animations.

RNDR is up 29 percent in the past few hours. The number two winner of the day is Injective (INJ) with a price increase of 22 percent. Injective is a Cosmos-based DeFi blockchain that has many prominent supporters – including Binance, Pantera Capital or Mark Cuban.

China’s Conflux (CFX) project, previously reported, is once again in third place among the daily winners. Today, the digital plant increases by 15 percent. It is a smart contract platform that is the only public blockchain to enjoy the support of the Chinese government.

Why is bitcoin and crypto rising today?

Some observers are convinced that the sudden price increase is related to price speculation. Users would have used the interim price low of the last few days to get supplies of digital currencies.

However, other experts suspect that the sharply rising prices could be related to the macroeconomic situation. Specifically, it is about the current banking crisis, which is mainly taking place in the USA.

However, there have already been upheavals in this country. The Swiss Credit Suisse was taken over by the domestic competitor UBS.

Several financial institutions have already gone out of business, including major crypto banks Silvergate and Signature, as well as Silicon Valley Bank, which also played a key role in the crypto industry as a partner of Stabecoin issuer Centre. Since then, the Swiss Sygnum Bank has come into focus . She is supposed to plug the holes that have been made.

Now there is concern that the banking crisis will continue. This apparently leads to increasing demand on the crypto market again. Finally, independent currencies are unaffected by the collapse in the banking sector.

San Francisco, California-based First Republic Bank collapsed nearly 40 percent yesterday. Today, the financial company’s stock manages temporary gains before falling again by 22 percent.

The crypto scene suspects that the First Republic Bank could become the victim of a crash. The company’s balance sheets were worse than expected, causing the stock to fall sharply, falling to an all-time low.

The US tax authorities are currently debating a possible bank bailout with company management.