Bitcoin (Bitcoin) rose for eight straight days, surpassing $18,000 for the first time since mid-December.
Cryptocurrencies have not recorded such a long winning streak since July 2021, at the height of the COVID-19 pandemic.
Over the past 7 days, BTC’s price has risen by nearly 8%, and at the time of writing it has surged 4.1% in the last 24 hours.
Related: From Bernie Madoff to Bankman Fried: Bitcoin Maximalists Verified
cointelegraph analysts predicted Bitcoin could rise to $18,000 early on Jan. 11 as Bitcoin price gains put pressure on $275 million worth of weekly options expiring Jan. 13. Yes, and bets were made under $16,500.
Rex Moskovsky, CEO of hedge fund Moskovsky Capital, posted an image on Jan. 11 showing an $86 million worth of Bitcoin short is “sucking like a royal.” tweeted.
Shorts are smoked on the royal road.
$86 million in the last 4 hours. pic.twitter.com/hNPwn4C53M
— Rex Moskowski (@mskvsk) January 11, 2023
BTC’s price will drop by nearly 65% in 2022. The wider cryptocurrency market also faced headwinds from numerous bankruptcies and collapses in the same year. Crypto Exchange FTXIt was the second largest exchange at the time of bankruptcy.
it seems like #bitcoin Let me remind you that we don’t care about exchanges, investor letters, open letters and Ponzi schemes. pic.twitter.com/OfmmdWeUvz
— Andrew (@AP_Abacus) January 12, 2023
On January 11th, FTX said it Collected $5 billion in cash and cryptocurrencies that may be sold to repay creditors
