Bitcoin is Rising again?

Over the weekend (2-3 December), the price of Bitcoin (BTC) experienced a remarkable surge, ultimately breaking through the significant psychological threshold of $41,000 on Monday morning (4 December).

Bitcoin's ascent has been consistent since October when it surpassed the $35,000 mark for the first time since 2022.

This recent surge has propelled Bitcoin's total gains for 2023 to an impressive 154%, reaching a high of over $42,000 on Monday, with an additional 5% gain in the last 24 hours.

Remarkably, BTC has now recovered all the ground lost over the past year and a half, encompassing the period since the crash of Terra's LUNA coin and the onset of the crypto winter in May 2022.

In tandem with Bitcoin's rally, Ethereum (ETH) has also experienced gains, although not as substantial. ETH has seen an increase of up to 3% in the past 24 hours, reaching over $2,200 for the first time since May 2022.

What are the reasons for Bitcoin Going up?

The current surge in Bitcoin's bullish sentiment is fueled by optimism surrounding the possibility that the Federal Reserve (Fed) may have concluded its tightening cycle with interest rates.

Several Fed officials, echoing this sentiment last week, hinted that interest rates might have reached their peak and could soon be on a downward trajectory. This development has injected a sense of hope among investors, signaling a potential shift from the current phase of monetary tightening.

A higher federal funds rate, set by the Federal Reserve, results in increased costs for banks to borrow money, consequently tightening the overall monetary supply in the economy. If the Fed is indeed winding down its current rate hike cycle, investors may find themselves with more capital to allocate to speculative assets like Bitcoin.

Notably, these comments from Fed officials coincide with a pivotal moment where the United States' first spot Bitcoin exchange-traded fund (ETF) could be on the brink of regulatory approval.

As of now, the Securities and Exchange Commission (SEC) has greenlit only crypto ETFs trading in cryptocurrency futures. Futures are financial instruments based on the potential future price of an asset, such as Bitcoin.

December is here, but Crypto Winter is Over?

Bitcoin and other cryptocurrencies faced a challenging period since the spring of 2022, marked by bankruptcies, collapses, and adverse rulings that significantly impacted the crypto landscape.

The initiation of crypto winter in May 2022 was triggered by the Terra LUNA coin debacle. Subsequently, a tumultuous summer for crypto investors culminated in the collapse of the prominent crypto exchange FTX in November 2022, appearing to be a decisive blow to the industry.

Throughout 2023, regulatory actions by both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) included numerous lawsuits against major crypto exchanges and companies. These legal challenges have hindered many from conducting business in the U.S., the world's largest economy.

Despite these setbacks, the recent gains witnessed this morning indicate a noteworthy recovery for both Bitcoin and Ethereum, as they have finally reclaimed the ground lost over the past year and a half. This resurgence signals a potential turning point for the crypto market.

Not to miss Crypto Boom, how to Buy Bitcoin?

The most straightforward, rapid, and convenient method to acquire Bitcoin is through the use of cryptocurrency exchanges. Cryptal, with the lowest commissions in Georgia, provides a user-friendly platform that enables individuals to purchase crypto and Bitcoin in two seamless ways: spot exchange and conversion. This simplicity and affordability make Cryptal an attractive option for those looking to enter the world of cryptocurrencies with ease.

• Convert: No prior experience is required to purchase Bitcoin through our platform. Simply specify the desired amount of cryptocurrency, click "buy," and within a few seconds, Bitcoin will be deposited into your wallet.
  
  
  
  
  
  The primary advantage of the conversion feature lies in its simplicity—you can acquire Bitcoin instantly without the need for additional knowledge or procedural steps.
  
  
  
• Spot Exchange: A spot exchange is a function that facilitates connections between individuals looking to buy and sell cryptocurrencies. It operates as a marketplace where users can place requests to buy Bitcoin and wait for someone to fulfill their request by selling them the desired amount of Bitcoin.
  
  The spot exchange is designed for relatively experienced traders, providing them with the opportunity to capture the best price for cryptocurrencies. This method allows users to engage in direct transactions with other participants in the market, contributing to a dynamic and potentially advantageous trading environment.