Bitcoin on Tuesday, December 5 marched ahead on the price ladder and registered a fresher nineteen-month high for itself. With a profit of 2.59 percent, Bitcoin is presently trading at the price point of $41,738 (roughly Rs. 34.8 lakh). In the last 24 hours, the value of Bitcoin has risen by $1,160 (roughly Rs. 96,728). Bitcoin’s market dominance has also risen over the last day and it currently stands at 53 percent. Key resistance levels for the asset includes $42,600 (roughly Rs. 35.5 lakh) and $44,000 (roughly Rs. 36.6 lakh).
Ether tailed behind Bitcoin on the profit-making side of the price chart on Tuesday. The price point of Ether did not change too significantly over the last day. Currently, ETH is trading at $2,228 (roughly Rs. 1.85 lakh). Its major resistance point is estimated to be at $2,230 (roughly Rs. 1.85 lakh).
With BTC’s rise, its makert dominance has increased, affecting the overall performance of altcoins. A potential rally in altcoins could occur if BTC stabilises and its dominance declines,” the CoinDCX research team told Gadgets360.
Tether, Binance Coin, USD Coin, Dogecoin, Avalanche, and Shiba Inu are trading in the greens today alongside BTC and ETH.
Minor profits were also reflected today by Monero, Cronos, Near Protocol, and Binance USD.
With a rise of 0.99 percent in the last 24 hours, the crypto market cap, as of November 15, stands at $1.54 trillion (roughly Rs. 128,40,627 crore).
“The popular meme Dogecoin has broken out of its horizontal resistance at $0.087. A few catalysts coming in like its 10th anniversary on December 8 alongside DOGE’s mentions on Tesla’s Cybertruck might give it some popularity again among the investors. One more noteworthy thing expected in DOGE is the launch of the DOGE-1 satellite mission to the moon by SpaceX, which is expected to launch sometime in January. The next resistance level for DOGE currently stands at $0.11 (roughly Rs. 9.17),” the CoinSwitch Markets Desk told Gadgets360.
Other popular cryptocurrencies like Bitcoin Cash, Cosmos, Stellar are trading in losses today.
Ripple, Solana, Cardano, Tron, and Chainlink are all trading in losses.
Market analysts meanwhile, have asked investors to exercise caution while engaging with crypto assets during this period of the bull run.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
