Bitcoin is a leader by exceeding most assets in Q1: Report

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Von: Krypto News Österreich

Kryptowährungen entwickelten sich im ersten Quartal deutlich besser als andere Anlageklassen. Da der Verkauf seit dem Zusammenbruch von FTX erschöpft war, gelang es digitalen Vermögenswerten, Gewinne zu erzielen, die seit zwei Jahren nicht mehr gesehen wurden. Laut dem neuesten Newsletter von IntotheBlock, der mit geteilt wurde CryptoPotatoBitcoin und Ethereum – die beiden größten Kryptowährungen – haben ihre größten vierteljährlichen Kursgewinne seit Q1 2021 realisiert. On-Chain-Überprüfung Die Marktkapitalisierung von Bitcoin stieg allein im März um 20 %, was zu einer positiven Veränderung von 70 % im ersten Quartal 2023 beitrug. Ethereum folgte einem ähnlichen Trend mit einem monatlichen Anstieg von 9 …
Cryptocurrencies developed significantly better in the first quarter than other asset classes. Since the sale was exhausted since FTX collapsed, digital assets managed to make profits that have not been seen for two years. According to the latest newsletter from Intothlock, which was shared, Cryptopotatobitcoin and Ethereum - the two largest cryptocurrencies - have implemented their largest quarterly price gains since Q1 2021. On-chain check The market capitalization of Bitcoin increased by 20 % in March alone, which contributed to a positive change of 70 % in the first quarter of 2023. Ethereum followed a similar trend with a monthly increase of 9 ... (Symbolbild/KNAT)

cryptocurrencies developed significantly better in the first quarter than other asset classes. Since the sale was exhausted since FTX collapse, digital assets managed to make profits that have not been seen for two years.

According to the latest newsletter from Intothblock, which was shared with cryptopotato Bitcoin and Ethereum - the two largest cryptocurrencies - have implemented their largest quarterly price gains since Q1 2021.

on-chain check

The market capitalization of Bitcoin increased by 20 % in March alone, which contributed to a positive change of 70 % in the first quarter of 2023. Ethereum followed a similar trend with a monthly increase of 9 % and a quarterly increase in market capitalization of 49 %. The ITV report stated that

"The outperformance of Bitcoin is probably an indication of its growing attractiveness as a digital value -plot, since its correlation with the gold price from -0.3 at the beginning of the year has increased to 0.9 to the end of the quarter. The quarterly increase of ether by 49 % also exaggerated many crypto -assets (and certainly stocks), although it has been in silicone since the debacle and the corresponding reaction of the Fed has remained behind Bitcoin. ”

Tether, the world's largest stable coin, also started the year with a monthly change of 12 % and a quarterly change in market capitalization of 20 %. This was due to the fact that investors changed from the Circle supported by Circle after the stable coin was strongly tested by the uncertainties in the banking sector and the increasing official control. The monthly market capitalization of USDC fell to 23 %, which shrank the quarterly number to 26 %.

where next?

Several factors contributed to increasing the performance of crypto. The year 2022 of the investment class concluded the failure of several large companies that culminated in the implosion of the FTX stock exchange due to allegations of fraud and the collapse of Terra.

the mood change began in January. After three months of the year, the market recovered again when three banks collapsed. Many in the community pointed out that the use of Bitcoin as a "safe harbor" from the traditional financial system had finally come to the fore. Even though two of the three banks - Silicon Valley Bank and Silvergate - have close connections to the crypto industry.

blockchain data also indicated that the current market conditions seem to be shaky. Therefore, Bitcoin and Ethereum are currently in a phase of great purchase activity.

According to ITB analysis,

27,000 USD or $ 1,700 for Bitcoin and Ether are crucial at short notice, since they are purchased at this level with 623.8,000 BTC (approx. 17 billion USD) and 8.4 million ETH (approx. $ 15.1 billion). In addition, it is unlikely that the two crypto-assets will find important support due to previous purchase patterns if they are broken up up to $ 24,500 and $ 1,500 for Bitcoin and Ether.

On the positive side, long -term investors have continued their accumulation trend. Two important events that can further accelerate the price development of the two top tokens are the Shanghai Upgrade from Ethereum, which is planned for this month, as well as halving Bitcoin, which is still one year away.

itb stated that the meeting of both bullish and bear factors Q2 will probably make interesting.

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