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Cryptocurrency: Bitcoin Rise Helps Market Surpass $2 Trillion

30/03/2022
Categories: Economy/Forex

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As a lackluster first quarter draws to a close, crypto appears to be on a roll. It has crossed the $2 trillion mark and is proving surprisingly resilient amid global chaos.

At Monday's high of $47,765, market leader bitcoin broke above the narrow $34,000-$44,000 range it traded in for most of 2022. Thanks to a steady rise since its low just above $40,000 on March 21, it gained 18%.

Its comparative stability, relative to previous performance at least, contrasts with stock markets, traditional currencies and even gold as a safe haven. Its 30-day volatility is around 4%, around two-thirds of its June 2021 level, according to futures trading platform Coinglass.

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