Bitcoin was the star of the first 6 months
Although the rise in the dollar, euro, gram gold and the stock market accelerated after the elections, the star of the first half was another asset. One of the stars of the first half of 2023 was Bitcoin, which rose 84 percent. In TL terms, Bitcoin’s rise reached 157 percent in the first half.
THE BAD PERIOD HAS PASSED
Bitcoin also got off to an active start in the second half of the year. Despite external conditions and signals not supporting cryptocurrencies, it returned from a 13-month high, hitting $31,500 on Thursday. Led by Bitcoin, the cryptocurrency market faced losses after the private sector employment announced in the US was quite strong and top executives from the Binance exchange resigned.
While Bitcoin was trading at $30,400 yesterday, it rallied to the $1,900 cap after rallying as high as $1,958 on Ethereum. The total value of the crypto money market was back at the $1.18 trillion level. Although they were rejected in the first place, the request of the largest fund managers in the world BlackRock and Fidelity to create a crypto investment fund increases and triggers positive expectations in the sector.
Bitay Research Department analyst Alper Samet Yorak said: “Leaving behind the uncertainties caused by the FTX crisis, the positive expectations in the Ripple case with the SEC, the increase in Bitcoin ETF applications, the Frequent SEC Messages on Bitcoin Regulation, Fed Chairman Jerome Powell’s Crypto in the Senate Positive rhetoric on coins and stablecoins and the relative fading of expectations of a harsh US recession. The US increased confidence in the cryptocurrency market in the medium and long term. Therefore, the worst period has passed.”
Binance resignation accusations confuse
The news of the resignation of the American subsidiary of Binance, the exchange with the highest volume of transactions in the crypto markets, fell like a bomb on the agenda. Bloomberg, citing an unnamed source, claimed that a senior executive at Binance.US, dealing with regulatory issues in the US, resigned along with many of his employees. Patrick Hillmann, who was appointed as the chief strategist of the stock exchange about two years ago, reportedly decided to leave the company after pressure from Binance in the US.