Bitcoin Cracks $22,000 — But Doubts Over How Long This Rally Will Last
Bitcoin

Bitcoin Cracks $22,000 — But Doubts Over How Long This Rally Will Last

1d"
2 months ago

Concerns over inflation, interest rates and the threat of a recession haven't subsided.

Bitcoin Cracks $22,000 — But Doubts Over How Long This Rally Will Last

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Bitcoin has broken through $22,000 as the crypto markets show signs of momentum.

However, analysts are divided as to how long the rally will last — as concerns over inflation, interest rates and the threat of a recession haven't subsided.

For the best part of two weeks, BTC had been struggling to break through $20,000 — and the world's biggest cryptocurrency slumped to two-month lows of $18,700 last Wednesday.

But there was a reversal of fortunes on Friday, with Bitcoin accelerating beyond $20,000 and $21,000 with little resistance.

All of this comes as MicroStrategy unveils plans to sell $500 million of stock — funds that would be devoted to buying even more Bitcoin.

This suggests that the company remains determined to continue investing aggressively in BTC, despite sitting on paper losses of more than $1 billion.

It's also the first time that the business intelligence firm has moved to increase its Bitcoin holdings since Michael Saylor stepped down as CEO and became executive chairman.

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