The price of bitcoin returned to growth on Friday, rising by more than 10%, after falling to record lows since the end of 2020. By 15:04 Moscow time on Friday, the bitcoin rate increased by 7%, to $30,573. Over the past five days, the cryptocurrency has fallen in price by 15.3%. The current week has been a busy one for the cryptocurrency market, with the current sell-off driven by the negative impact of stock market weakness, as well as the TerraUSD (UST) stablecoin falling below the $1 mark it was pegged to. On Thursday, Coin Desk reported that another stablecoin, Tether (USDT), has lost its peg to the US dollar, dropping to $0.96. UST traded at around $0.14 on Friday, according to data from CoinGecko. Against the background of the fall in the UST rate, the Luna cryptocurrency, which is closely related to the stablecoin, also depreciated. Now its rate is $0. In turn, the so-called “meme” cryptocurrencies Dogecoin and Shiba Inu have steadily strengthened, rising by 13.3% and 27%, respectively. However, since the beginning of the year, their price has decreased significantly – by 46% and 59%, respectively. Cryptocurrencies are depreciating along with other risky assets, including stocks. In recent years, more traditional investors have entered the market, who are more likely to sell cryptocurrencies during periods of increased volatility than to hold them, experts say. Source: FINMARKET.RU

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