Bitcoin bounces back
After a sharp drop on Thursday, the largest cryptocurrency Bitcoin continued its recovery on Friday, crossing the $68,000 mark. Crypto-related stocks of several companies are also showing double-digit gains amid renewed interest in the sector.
According to CoinDesk, as of early Friday, February 6, Bitcoin is trading at around $68,500, which is 5.5% higher than the previous trading day. Stocks of companies related to cryptocurrencies are also showing growth. For example, MARA Holdings and Galaxy Digital quotes are adding more than 10% to their value.
Recall that on Thursday, February 5, Bitcoin collapsed by more than 7%, dropping below $65,000. This happened against the background of a general cooling of the cryptocurrency market and a correction after a prolonged rally. The decline also affected other crypto assets, including Ether and altcoins.
However, the very next day, Bitcoin and related assets demonstrated a recovery. This may indicate that the correction was short-term and the market is resuming its upward movement. Many experts continue to adhere to a positive long-term forecast for Bitcoin, predicting its growth to $100,000 and above in the coming months.