Bitcoin As Safe Haven Asset On The Spotlight As BTC Crosses $43K

According to figures from Coinbase and Coindesk, cryptocurrency values have risen nearly as swiftly as they fell, with some analysts referring to Bitcoin’s capacity to act as a safe haven asset during times of global turmoil. The cryptocurrency market cap reached $1.7 trillion today, indicating that the broader crypto industry has rebounded nicely. Bitcoin is active today, trading at $43,232.38, up by 14.40% since Monday. It is within the boundaries of a bullish trend that may affect the cryptocurrency market until the coming weeks. BTC posted a high of $43,760.46 and a low of $37,585.36. Its market capitalization at present is $820.17B. Related Article | Bitcoin Staggers After Putin’s Nuclear Deterrence Alert Warning As for Ethereum, it also showcased bullish trends with a current price of $2,919.47, which also had an 11.69% increase in the past 24 hours. It has highs reaching $2,972.33 and lows of $2,571.94; its market capitalization is on a high note, at $343.74 billion. Safe Haven Asset Tested The impact of Russia’s invasion of Ukraine was felt by markets worldwide. The Bitcoin market was not spared, with its market capitalization dropping below $1.5 trillion. However, as evidenced by Tuesday’s positive price increase, Bitcoin has recovered enormously. Greater volatility in the global cryptocurrency market will undoubtedly increase as the war continues, resulting in substantial increases in the price...