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Crypto and Tech Stocks Rise as Investors Take Advantage of Low Prices

 


After the US Federal Reserve announced that it would raise interest rates in the coming months, there was a sharp fall in prices on the cryptocurrency and stock markets.


However, markets appear to have come to terms with reality and crypto and stock prices have started to rise, attracting many investors looking to take advantage of the low entry prices.


Rise of the crypto market

After a significant drop earlier in the year, most cryptocurrencies are now green, with Bitcoin (BTC) and Ethereum (ETH) taking the lead. They try to correct the decline.


Bitcoin and Ethereum are down over 20% and 30%, respectively, from their 2021 all-time highs. The total crypto market cap saw a drop of about $520 billion.


However, as of Jan. 24, the majority of cryptocurrencies are bullish and trying to correct recent declines. Bitcoin, for example, is up over 5% and Ethereum is up over 13% over the past week.


Avalanche (AVAX) is up 11% and Polygon (MATIC) is up 13% over the past week. The majority of altcoins are up over 5% since Jan. 24.


Tech stocks have skyrocketed today

Similar to cryptocurrencies, tech stocks also saw significant falls at the start of the year.


In January, the Nasdaq 100 Index fell over 9%, while QQQ EFT, an exchange-traded fund, fell over 9.5%. Other tech stocks that have seen big falls include Ark Invest ETFs.


However, most tech stocks are now bullish. For example, Nasdaq is up over 3%, QQQ is up 3%, ARKK is up 9.5%, Nvidia is up 7.21%, and AMD is up 8.6%.


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