{"id":423757,"date":"2022-03-29T18:05:34","date_gmt":"2022-03-29T15:05:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-passes-48k-turning-green-for-first-time-in-2022\/"},"modified":"2022-03-29T18:05:34","modified_gmt":"2022-03-29T15:05:34","slug":"bitcoin-passes-48k-turning-green-for-first-time-in-2022","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-passes-48k-turning-green-for-first-time-in-2022\/","title":{"rendered":"#Bitcoin passes $48K, turning green for first time in 2022"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a30e66a1385f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a30e66a1385f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-passes-48k-turning-green-for-first-time-in-2022\/#%E2%80%9CBitcoin_passes_48K_turning_green_for_first_time_in_2022%E2%80%9D\" >&#8220;Bitcoin passes $48K, turning green for first time in 2022&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CBitcoin_passes_48K_turning_green_for_first_time_in_2022%E2%80%9D\"><\/span>&#8220;Bitcoin passes $48K, turning green for first time in 2022&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Bitcoin surged above $48,000 on Tuesday morning for the first time since 2021, putting the cryptocurrency in positive territory after a rocky start to the year.\u00a0<\/p>\n<p>The world\u2019s most popular cryptocurrency was trading at about $48,050 early Tuesday before receding to about\u00a0$47,500 in the afternoon,\u00a0leaving it up\u00a01.2%\u00a0over the previous 24 hours.<\/p>\n<p>Tuesday\u2019s milestone came after days of bitcoin steadily rising. The coin has rallied\u00a08.1%\u00a0over the past five days.<\/p>\n<p>Some smaller cryptos also rallied on Tuesday morning, with Ethereum notching a 3.3% gain and Solana up 3.5%.\u00a0<\/p>\n<p>Meanwhile, XRP fell 2.0% and Cardano declined 1.5%.\u00a0<\/p>\n<p>Of the five cryptos, only bitcoin and XRP are in the green for this year.\u00a0<\/p>\n<p>Bitcoin\u2019s relative strength amid a storm of market-shaking <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> including Russia\u2019s invasion of Ukraine and soaring global inflation shows that it\u2019s the equivalent of a \u201cblue chip\u201d stock within the cryptocurrency market, according to David D. Tawil, president of crypto-focused hedge fund Prochain Capital. \u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/bitcoin-33.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Bitcoin \" class=\"wp-image-21699090\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/bitcoin-33.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/bitcoin-33.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/bitcoin-33.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>\u201cWhen you have a risk-off environment, your largest, strongest most widely held assets are going to drop the least,\u201d David D. Tawil of Prochain Capital said. <\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>So while Bitcoin\u2019s price movements often look crazy compared to stock market indexes, Tawil said they\u2019re muted when placed alongside other cryptocurrencies. <\/p>\n<p>\u201cWhen you have a risk-off environment, your largest, strongest most widely held assets are going to drop the least,\u201d Tawil told The Post.\u00a0<\/p>\n<p>He predicted that bitcoin and other cryptocurrencies will continue to rally in the coming days as the stock market is buoyed by reports early Tuesday of productive peace talks between Russia and Ukraine. The Dow Jones Industrial Average and Nasdaq Composite Index both surged about 1.0% on the news, though both indexes are still in the red for the year. <\/p>\n<p>\u201cThe turn in equity markets and a risk-on environment certainly helps crypto,\u201d he said. \u201cIt\u2019s a risk-on asset of the purest kind.\u201d\u00a0<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>The rally was given an extra boost by technical factors including a wave of buying by short-sellers being forced to cover their positions, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.barrons.com\/articles\/bitcoin-ether-crypto-prices-51648553688?tesla=y\">Barron\u2019s reported<\/a>. <\/p>\n<p>The rally also comes amid greater institutional adoption of bitcoin. <\/p>\n<p>Earlier in March, Goldman Sachs became the first big US bank to trade bitcoin over the counter \u2014 and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coindesk.com\/business\/2022\/03\/21\/ray-dalios-bridgewater-investing-in-crypto-fund-sources\/\">CoinDesk reported<\/a> last week that billionaire investor Ray Dalio\u2019s Bridgewater hedge fund is preparing to back its first cryptocurrency fund. <\/p>\n<p>Garrick Hileman, research\u00a0chief at Blockchain.com, told The Post that \u201cthe changing attitude of powerful longtime crypto critics\u201d is contributing to the surge.\u00a0<\/p>\n<p>Bitcoin briefly traded as low as $35,000 in January and around $37,000 in February and March but quickly rebounded to $40,000 or more each time, assuring would-be buyers confidence that a massive collapse isn\u2019t in the cards, according to Hileman.\u00a0<\/p>\n<p>\u201cThere are other factors that are giving market participants confidence to invest, including bitcoin\u2019s price showing support in the $40,000 range over the past several months,\u201d Hileman, who\u2019s also a research fellow at the London School of Economics, told The Post.\u00a0 \u00a0\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/03\/29\/bitcoin-passes-48k-turning-green-for-first-time-in-2022\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Bitcoin passes $48K, turning green for first time in 2022&#8221; Bitcoin surged above $48,000 on Tuesday morning for the first time since 2021, putting the cryptocurrency in positive territory after a rocky start to the year.\u00a0 The world\u2019s most popular cryptocurrency was trading at about $48,050 early Tuesday before receding to about\u00a0$47,500 in the afternoon,\u00a0leaving&#8230;<\/p>\n","protected":false},"author":1,"featured_media":423758,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/bitcoin-32.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,127277,76127],"class_list":["post-423757","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-3-29-22","tag-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/423757","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=423757"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/423757\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/423758"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=423757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=423757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=423757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}