What a great week we’ve had! 2023 has started in style and cryptocurrencies are in the green, something we haven’t seen since 2021! Something we haven’t seen since 2021! Is it time to start celebrating? Shall we buy champagne? Shall we quit our monotonous jobs to live off the profits generated by our cryptos and spend the rest of our days on a paradise beach? Well… we’d better wait a bit.
For the time being, we can settle for seeing a little green on the charts, which last year were nothing more than red blotches on our screens. And, although it is still a bit early to anticipate the market’s definitive recovery, some specialists believe that 2023 could be a great year. Let’s keep our fingers crossed.
Let’s start with our trading expert’s analysis of the Binance cryptocurrency. BNB broke early in the week above the $250 barrier, rising 26%. Ethereum also performed well (+10%) and bulls are already setting their sights on the $1700 mark in the very near future.
For its part, the market’s flagship cryptocurrency, Bitcoin, broke several barriers this week and is already starting to look closely at the $20,000 mark, a mark that would be a tipping point, according to specialists. First, it surpassed $17,000, and then pierced the $18,000 ceiling to settle for a while around 18.5K.
In addition, there were several cryptocurrencies that gave the surprise, seeing big rises. Did you see them coming? One of them was Lido Dao, which exploded 60% in just a week, driven by Ethereum’s impending Shanghai update. And even more incredible was the meteoric rise of the GALA token, which saw a 140%! increase in 7 days.
The week was so good that even the most disappointing cryptocurrencies of the last few years, we are obviously talking about Cardano and Solana, saw good growth because of the tailwind brought by the market and good data on their respective blockchains. It’s about time!
And so much for this week’s news summary. Undoubtedly an encouraging start to the year, although we know that in the world of cryptocurrencies what is up today can be (VERY VERY) down tomorrow. So follow the latest news of what is happening in Crypto-Economy.