Most cryptocurrencies maintained last week’s rallied prices as January 2023 neared its end. Bitcoin opened trading at its highest price so far in 2023 – $22,716 (approximately Rs. 18 lakh) on Monday, January 23. The oldest cryptocurrency saw a tiny 0.06 percent drop on the chart as it entered the trading floor. With today’s readings, Bitcoin has finally managed to break out of its five-month low-price magic. Industry experts see this as the return of bullish sentiment to the market.
ether along with Bitcoin reached its highest price point in the last four months. The cryptocurrency, which is up 0.67 percent today, is currently trading at $1,631 (about 1.32 lakh), it showed Crypto price tracker by Gadgets 360.
“If BTC can maintain its momentum, it could reach $23,000 (roughly 18.6 lakh) soon. Ether price surge will likely keep bulls active in the market and potentially push prices higher,” Edul Patel, CEO and co-founder of Mudrex, told Gadgets 360.
The prices of avalanche and Dogecoins were up five percent each, with the currencies joining other altcoins on the green side of the price charts.
Shiba Inu, Cardano, polygonand Speckle — also grown with small price increases.
Among other profitable altcoins, Tron, Uniswap, cosmos, chain linkand Monero marks their presence.
After November 2022, this is the first time in 2023 that the valuation of the global crypto market has reached and broken the trillion dollar mark. acc CoinMarketCapThe market cap for the crypto sector currently stands at US$1.04 trillion (approximately Rs.84.48.108 billion).
Meanwhile, a small number of altcoins opened at losses today. These include stablecoins such as tether, USD coinand Binance USD.
Solana, Litecoin, Wrapped Bitcoin, LION, brain trustand augur also experienced depreciation.
Cryptocurrency is an unregulated digital currency, not legal tender and is subject to market risks. The information provided in this article is not intended to and does not constitute financial advice, trading advice, or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for any loss arising from any investment made on an accepted recommendation, forecast or other information contained in this article.
