Cryptocurrency market is rising: Latest situation in Bitcoin and altcoins!

The cryptocurrency market, which has been stagnant for the past few weeks, started trading with a strong recovery on Thursday, February 8. The price of leading digital asset Bitcoin has begun to recover, rising above $44,000. An upward momentum was also seen among altcoins and meme coins, and digital assets showed a recovery. Cryptocurrency analyst Altcoin Daily addressed this issue and emphasized why the market is rising.

Reasons behind the rise?

The rise in Bitcoin is at the basis of the rise in the cryptocurrency market. Bitcoin price has recovered significantly as of today, increasing by 3.65 percent at the time of writing. With the increase, its price reached $44,496.26. The transaction volume of the asset increased by 38.40 percent in the last 24 hours, reaching 23.67 billion dollars. With this rise, the market value of crypto reached 873.63 billion dollars. The reason for Bitcoin's rise was the purchase of BTC by MicroStrategy company.

The company, which recently purchased $ 37 million worth of Bitcoin, increased its total BTC assets to $ 10,000, allowing the digital asset to gain value. With this purchase, CEO Michael Saylor expressed his unwavering confidence in Bitcoin.

Michael Saylor's investment history with BTC goes back further and beyond institutional issuance. Saylor, who bought a significant amount of BTC a few months ago, holds more than 1 percent of the Bitcoin in the market. According to the CEO, this is due to BTC's position in the market and the asset being an investment choice that can withstand pressures. Like gold, you cannot displace Bitcoin because it is considered a decentralized asset. This makes BTC a safer and better choice.

Cryptocurrency prices today by market cap## Analyst Altcoin Daily covers altcoins

Analyst Daily continues with the second largest digital asset, Ethereum, in the video he shared. ETH has recently come to the fore with stop Erhereum ETF news. ETH applications by Ark Invest and 21 Shares companies pointed to a potential increase in the value of the crypto asset. This reflects movements observed in Bitcoin ETF applications prior to regulatory approval. The asset, whose adoption will increase with ETF approvals, is trading at $ 2,421, increasing by 2.58 in the last 24 hours.

Network-based challenges continue in Solana, which has been on the agenda with Jupiter and the meme coin ecosystem in the last few weeks. But CoinShares' confidence in Solana investment products ensures the asset remains strong. In addition, there is an increasing trend in the total locked value of SOL, and the asset reached $1.65 billion. In addition, SOL, which has increased by more than 5 percent in the last 24 hours and reached $ 100.57, is trading above the critical support.

The cryptocurrency market is going through a period of change!

The cryptocurrency market, which had a turbulent year with legal regulations and speculations last year, is going through a process of change this year where the pieces are falling into place. The Bitcoin halving, which will take place in two months, will contribute to the value of many digital assets, including BTC. Bitcoin Minetrix token, which is closely related to the Bitcoin halving, continues to grow in this process.

What is the advantage of Bitcoin Minetrix?

Developed as an alternative to traditional mining, the Bitcoin Minetrix project offers cloud-based mining, allowing ordinary people to earn profits from mining. BTCMTX, which will be one of the tokens that will gain value with the upcoming halving event, produces solutions against centralized problems in terms of security, transparency and practicality. Firstly, it offers safe earnings by eliminating third-party fraud risks. It is also traded on the ETH network and is available to everyone without requiring technical expertise. Another distinctive aspect of the Bitcoin Minetrix project is its environmentally friendly methods. Because it simply solves the hardware and heat problems as in traditional mining. This development provides a solution to current problems

Exploring the different risk factors between #BitcoinMinetrix and Traditional Cloud Mining! ⚖️ #BTCMTX: User-managed, flexible withdrawal and selling.

Traditional: No reimbursements, locked-in contracts.#CryptoComparison #MiningInnovation pic.twitter.com/W2pnuOk8dG

— Bitcoinminetrix (@bitcoinminetrix) February 7, 2024

Looking at the price information, the project, which will complete the 24th stage in 3 days, announced that it has collected $ 10,447,000 in savings. The token price was also updated in the project, which was met with intense interest. With the last update, the asset sold for $ 0.0133 becomes one of the low-fee tokens that can be purchased without increasing its price after listing. Finally, payment can be made with ETH and USDT to purchase the token.

Visit Bitcoin Minetrix

In addition to the Bitcoin halving and the developments in Minetrix tokens, another event that drives the cryptocurrency market to change is the regulations for the Ethereum ETF, which are expected to be clarified in the coming months. ETH, which is launched as the best blockchain platform, is gaining strength as its first product for trading and custody in accordance with SEC rules.

It is included in the analyst's statements in Injective Protocol. Injective is likely to increase the adoption and popularity of digital assets through developments in decentralized finance (DeFi), evidenced by projects such as Helix, which brought the Japanese Yen to the blockchain through its decentralized exchange. As a result, regulatory developments and technological advances, as well as corporate investments, will increase continuity and innovation in the digital asset ecosystem in 2024.