Bitcoin rises above $44,000

Bitcoin rises above $44,000 – Waves cryptocurrency becomes the leader in growth rates

Suddenly, the prices of most cryptocurrencies rose strongly on the evening of March 1st. The increase in this regard is a surprise. Many expected a sharp drop in the price of bitcoin due to the escalation of the conflict between Russia and Ukraine. After a relatively moderate drop of 10-20%, most digital assets have already more than made up for the loss, reports SmartNews.

The price of bitcoin rose by 15%

Bitcoin ended the winter at $38,000, but the price of the largest and oldest cryptocurrency rose rapidly and by March 2 reached a price of almost $44,500. This corresponds to a 15% increase over a couple of days. Given the current situation, this development was somewhat of a surprise. Having reached a local all-time high in April 2021, Bitcoin has already fallen from $64,000 to $27,000 in a few months. However, in the range from $27,000 to $40,000, Bitcoin has been very constant and stable all these months.

Between July 20 and November 10, 2021, BTC was able to rise from $29,000 to over $68,000 before starting another downtrend that ended about two weeks ago at $33,000. Under certain circumstances, a similar development could be expected now. events, but the military conflict in Eastern Europe and a possible change in interest rate policy will continue to put pressure on the markets and make them frankly unpredictable.

Bitcoin overtakes the ruble in terms of market capitalization

The total market capitalization of BTC has overtaken the Russian ruble amid the geopolitical situation around the war in Ukraine. Bitcoin itself is currently one of the 15 most valuable currencies in the world. This puts BTC ahead of the Norwegian krone, Thai baht and other major currencies (source: Coinmarketcap, as of March 1st).

Leader of the day and week: Waves

Like bitcoin, altcoins have risen strongly. The entire cryptocurrency market increased its market capitalization by approximately $200 billion within 12 hours. The indicator again returned to the psychologically important mark of $2 trillion.

In addition to cryptocurrencies such as Terra or Avalanche (AVAX), the Waves (WAVES) cryptocurrency is currently being actively developed. Over the past seven days, the respective tokens have been able to double their rate. In the last 24 hours alone, the price has increased by almost 40%.

WAVES is currently trading at $16.75. With a market capitalization of $1.8 billion, the cryptocurrency is the 55th most valuable digital asset. However, the all-time high of $41.33 set on May 4, 2021 is still a long way off. Waves tokens are not a new cryptocurrency in and of themselves, and became known to many crypto enthusiasts during the 2017/2018 bull market. It is a smart contract platform.