FX.co ★ Bitcoin rebounds after strong crash early this week

Bitcoin fluctuated between gains and losses on Wednesday as traders looked for direction following one of the biggest one-day sell off this year. It rose after falling 3.7% to $ 48,685 earlier this week.

Ethereum, Solana, Cardano and Shiba Inu also fluctuated, but ultimately grew yesterday during the US session.

Demand for crypto declined last weekend because skyrocketing inflation is forcing central banks to tighten monetary policy. That is why Bitcoin was down 35% on Saturday.

But digital assets are the top contender for a strong rebound in 2022, hinted by the record growths this year. And according to a survey conducted by Natixis, the total assets that respondents manage are $ 12.3 trillion.

The gloomy predictions for Bitcoin were also consistent in the past years, but most of them did not happen because the token jumped more than 5,000% in the past five years.

Bloomberg even said the recent fall in BTC prices hints at an impending rally.