Written by 4:54 pm Bitcoin

Bitcoin Clings to $20,000 Despite Big Tech Setbacks

Bitcoin (BTC), the most popular cryptocurrency, is rebounding despite big tech’s massive losses this week, and has risen to $20,000 after several weeks of trading in the $19,000 level.

The digital currency is clinging onto the $20,000 level and was trading at $20,467 in mid-day, an increase of 7% during the past seven days, according to CoinGecko.

Tech giants lost a whopping $560 billion in market value this week after Amazon  (AMZN)  lead a disastrous earnings season for the mega cap companies. Microsoft  (MSFT) , Alphabet  (GOOGL)  and Meta Platforms  (META)  were all disappointing, while Apple (AAPL) warned it was still impacted greatly by supply chain disruptions.

Source link