Monday, October 3, 2022

Will the rally continue ?: Bitcoin broke the critical level

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The price of Bitcoin (BTC) has reached $ 18,000 today, with an increase of 2.37% in the last 24 hours. Overall, the weekly price increased by 0.74%. At the time of writing, Bitcoin is trading at $ 18,101.

On Thursday, November 26, the world’s largest cryptocurrency had a massive meltdown as it wiped out $ 3000. Today’s rise is the continuation of an uptrend that started Friday when the price started to rise from lows of $ 16,700 and hit $ 17,180 at midnight on Friday. But the real show lies in the monthly price performance; Bitcoin rose from $ 10,500 to $ 19,446 between October and the end of November. Today, Bitcoin’s 24-hour trading volume increased by 8.1% from $ 33.390 billion yesterday to $ 36.218 billion.

The global cryptocurrency market’s value has reached $ 537 billion, with an increase of 5% in the last 24 hours. Bitcoin has a global market value of $ 335 billion. In other words, BTC’s market dominance is around 62%. There is also an increase in other cryptocurrencies in the top three. They also made a better rise than Bitcoin. The price of the Ethereum reached $ 551. It increases by 6% daily and 5.40% weekly. XRP continues to continue the wave of the market rally, reaching $ 0.61 today, with an increase of 9.46% in the last 24 hours. XRP has increased by 44.34% this week.

The information in the content of the article is for informational purposes only. It does not constitute any investment advice.

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