Bitcoin, a new life lesson: the main cryptocurrency and dragged the whole market after it

Bitcoin, a new life lesson: the main cryptocurrency and dragged the whole market after it

5 March 2022 0 By admin

Bitcoin, Ether and Dogecoin enthusiasts are far from few. Unfortunately, most of them did not start 2022 very well. It seems, however, that there is good news in the crypto market.

At the time of writing, a Bitcoin was trading at $ 41,722, up about 27% from this year’s low on January 24th. As a reference, at that time, it was trading at $ 32,950. More important than these figures, however, is the gratifying trend for cryptocurrency enthusiasts. Due to its historical significance, when Bitcoin enjoys such an evolution, it pulls the entire market in the same direction.

Over the past weekend, Bitcoin has seen impressive growth, given the free fall since the first days of January. It didn’t take long for the same growth to be reflected in other cryptocurrencies, such as Ether. Currency anchored in the Ethereum blockchain network has exceeded $ 3,000 for the first time since January 21st. At the time of writing, this figure was around $ 3017.

The return of cryptocurrencies coincides with the growth of major US stocks on the New York Stock Exchange, although there is not necessarily a correlation between the two financial assets. The high-tech Nasdaq Index closed the week with gains, despite strong volatility from financial results, including rising Amazon and disappointing Meta results. Facebook is attracting the attention of Reuters.

All in all, in about 24 hours, Bitcoin has seen an increase of over 3%, a detail that, although unpredictable, puts the cryptocurrencies back in a good light and sells the illusion of Quick enrichment. The fact that Ether has grown by more than 2.5% in such a short time is further confirmation of the same reality. Basically, if you had invested $ 15,000 10 days ago in Bitcoin, you would now have a net profit of about $ 2,000.

Michelin, a company also present on the Romanian market, uses natural gas to produce electricity and steam, which it needs to mold the rubber into tires, writes Agerpres.

French tire maker Michelin plans to stop using gas to produce electricity at plants in Spain, Germany and Italy as part of its contingency plan for a possible export disruption of Russian gas, said a spokesperson.

Michelin uses gas to produce both power and steam, which is needed to harden the tires in a mold, giving them their final shape and pattern. the tread.

It is now preparing to save on gas consumption by using it to produce steam only when needed, while buying electricity from the national grid, spokesman Herve Erschler said.

Other measures the group has put in place to prepare for an energy crisis include converting its boilers so they can run on oil, or even coal, as well as gas. He declined to comment when asked if buying energy from the grid would cost more for Michelin than producing it in its own factories.