Venn Link News Today

The sharemarket had a rough start to the week; yet the largest cryptocurrency has continued to climb to $US42,000, its highest level in 19 months.

Bitcoin rose as much as 6.1% to reach $42 144 earlier and was trading at $41 803 as of 4 p.m. on Monday in New York.

Bitcoin topped $42,000 as frenzied speculation in cryptocurrencies gathers pace, extending its rally to over 150% in 2023. Read more.

Its daily market share plunged to as low as 47% on on April 6, just after a separate lawsuit from the US Commodity Futures Trading Commission.

What’s the Short and Long-Term Outlook for Bitcoin?

The overall market cap of the crypto universe rose above $US1 trillion for the first time since early November.

By Joanna Ossinger Bitcoin is seeing sustained trading below $20,000 for the first time since mid-July, as risk appetite wavers after Federal Reserve Chair Jerome Powell stressed that interest rates may have to stay elevated to stamp out inflation.

Fell as much as 2.3% on Monday to $19 527.

Numerous strategists have flagged $20,000 as a key point for Bitcoin.

Bitcoin appeared stuck around $20,000 on Sunday as part of a wider cryptocurrency market retreat, amid concern about the Federal Reserve s rate hike p...