Bitcoin Now Positive for 2022
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The price of Bitcoin jumped 2% Monday, resulting in the cryptocurrency finally going positive for 2022.
Numbers: Between Friday and Monday, the price of Bitcoin increased by 7%. It reached a 2022-high price of $48,000 at one point on Monday before ticking down.
Background: It’s been a rough 2022 for most cryptos. In particular, Bitcoin entered the year at around $46,000 and dipped as low as $34,000 in January. The price has since gone back up.
Big Picture: What’s remarkable about Bitcoin’s sudden resurgence is that it is surviving other economic headwinds, including inflation and the war in Europe.
Support: While there wasn’t a clear catalyst for the recent surge in price, a few major United States banks have thrown their support behind Bitcoin in recent weeks.
Final Thoughts: Even though Bitcoin may be headed towards a positive return in 2022, many other cryptos are still not there yet.
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Cryptocurrency
