As you know, the most valuable digital asset, Bitcoin, fell below $ 30,000 some time ago. However, we have seen a 5% increase this week, most likely helped by a report from China deciding to ease measures in the country over the Covid-19 coronavirus pandemic, Bloomberg said. This increase was accompanied by the growth of other stablecoins and Etherea (which rose by 7.7%), as well as stocks in Europe and Asia, as US markets closed due to Memorial Day.
Many experts predict that Bitcoin has already reached its bottom in the current bear cycle, with many expecting a similar increase due to eight consecutive weeks in red. However, they remain cautious as several other factors have influenced recent developments. However, the crypto community takes recent developments largely positively and expects further growth of cryptocurrencies. However, we will have to wait to see how it really turns out.