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Bitcoin is in progress over 22,000 dollars, although Genesis Crash was on its way up – Game News 24 appeared on game-news24.com by Game News 24.
The price of Bitcoin jumped by more than 5 % over the past 24 hours, reaching its highest level since mid-September last year. This happened just after the launch of a bankruptcy proceeding on Thursday, the cryptocurrency broker Genesis Global Capital and two other companies of the Digital Currency Group (DCG) holding, which, it appears, could have negative impact on the cryptocurrency market.
Image source: Kanchanara/unsplash.com.
In particular, Genesis Global Capital suffered the impact of the collapse of the cryptocurrency hedge fund Three Arrows Capital (3AC), which filed for bankruptcy in July and owed over $2.3 billion in cash, and the collapse of the largest cryptocurrency exchange FTX.
The Bitcoin price soared 62,387 euros — a move of 5,4% from the previous 24 hours. Ethereum has also grown to $1.3 million, up from 5,2% since Thursday. The Coindesk Market Index (CMI) increased by 4,1 p.m.
In the past seven days, the prices of bitcoin has increased by one1% and since beginning the year 34%. Ethereum is up 12% in a week, and 37% since the 31st of December 2022.
Cryptocurrency-related stocks, too, experienced a gain. Exchange Coinbase (Coin) shares have recently surged by 10% while Capital-backed companies Marathon Digital Holdings have risen 9%. Traditional markets also rose, with the S&P 500 stock price up 1,9 %.
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