Cryptocurrency prices rose marginally today with the world’s largest and most popular digital token bitcoin trading at $19,501, up more than a percentage point. After hitting an all-time high of around $69,000 in November last year, bitcoin price has been trading in a narrow range around $20,000 since June this year.
Ether, on the other hand, is the coin linked to the Ethereum blockchain and the second largest cryptocurrency, also rose more than 2% to $1,329. Meanwhile, the price of Dogecoin was up more than one percent today at $0.05 while the Shiba Inu was also up around 1.3% to $0.00010.
“Bitcoin and Ethereum are up around 2% and 3% over the past 24 hours. BTC seems to have settled above the $19,000 level, which indicates a rise in buyers in the market. BTC is currently trading at $ It is trading above the 19,500 level. The next resistance is likely to be at $19,647. If the bulls break the resistance, BTC could rise to the $20,000 area. Also, Ethereum, the second largest cryptocurrency, is trading in line with Bitcoin. If buyers can catch the initiative, we could see ETH rising to the $1,360 and $1,380 zone soon,” said Edul Patel, CEO and Co-Founder, Mudrex- a Global Crypto Investment Platform .
Avalanche, Binance USD, Polkadot, Cardano, Chainlink, Tether, Apcoin, Solana, Litecoin, Tron, Uniswap, Cardano, Polygon, XRP, Terra, Stellar prices traded with marginal gains in today’s performance of other crypto prices . twenty four hours According to CoinGecko, the global crypto market cap was below the $1 trillion mark today, even though it was up more than one percent to $975 billion in the past 24 hours.
Bloomberg News reported that crypto hedge fund Three Arrows Capital (3AC), which filed for bankruptcy in July, is being investigated by the Commodity Futures Trading Commission and the Securities and Exchange Commission to see if it misled investors.
Global markets have plunged over the past few months as central banks around the world raised interest rates to curb rising inflation. Risk assets such as cryptocurrencies have been particularly hard hit as bearish fears mount.
(with inputs from agencies)
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