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Bitcoin recovers $20,000 from Nasdaq gains

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Bitcoin is showing a slight upward trend as it recovers to $20,000.

At 7:35 am on the 6th, on CoinMarketCap, a global coin market relay site, the price of 1 BTC (bitcoin unit) is trading at $22,277, up 1.67% from 24 hours ago.

Ethereum is trading at $1,141, up 0.35% per 1 ETH (Ethereum unit), and Solana is trading at $35.71, down 1.85% per 1SOL (solana unit). Ripple traded at $0.32 per 1XRP, down 0.77%.

Although concerns about an economic slowdown persist, Bitcoin also rose as the Nasdaq Index rose in the New York Stock Exchange last night. In the afternoon of the previous day, Bitcoin collapsed in the $20,000 range, but it seems to have recovered this morning.

In the meantime, the Bitcoin price has been in sync with the Nasdaq index of the US stock market. On the New York Stock Exchange (NYSE) last night, the Nasdaq index, which focuses on technology stocks, rose 194.39 points (1.75%) to close at 11,322.24. The Dow Jones Industrial Average fell 129.44 points, or 0.42%, to 3967.82, and the S&P 500 rose 6.06 points, or 0.16%, to 3831.39.

Investor sentiment is still frozen, but has improved slightly. The digital asset ‘Fear-Greed Index’ of Dunamu, which operates Upbit, a domestic virtual asset exchange, was counted as ‘fear’ with a score of 34.54 as of the previous day. A value closer to 0 indicates a contraction of the market as ‘very fear’, and a value closer to 100 indicates a boom in the market as ‘very greed’.

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I am a contributor to Advancetec.co.uk. I am fascinated by technology overall, especially crypto and it's potential to disrupt the global financial system. But until that future comes, I am perfectly content immersing myself in gaming, movies, gadgets, and all of the other wonders of the modern world.