Bitcoin has climbed more than 10% this week, outperforming stocks
Publishing timestamp: 2023-01-20 15:31:21
Summary
Cryptocurrencies rose this week, with Bitcoin and Ether up 12% and 14% respectively, while the S&P 500 and Dow Jones Industrial Average were down 0.9% and 2.9%. The rise in crypto prices comes despite the bankruptcy filing of major crypto lender Genesis. Analysts attribute the rally to a general increase in risk assets and the fact that negative news from the crypto industry has already been priced in.
Sentiment: POSITIVE
Keywords: investment strategy, business news, bitcoin, bitcoin/usd coin metrics, ethereum/usd coin metrics, markets,