Bitcoin, which initiated the month with a price of $34,397 (approximately Rs. 28.6 lakh), is currently trading at $37,238 (approximately Rs. 31 lakh).
As of Monday, November 27, Bitcoin experienced a 1.24 percent loss, with its current value standing at $37,238 (approximately Rs. 31 lakh). Despite this recent dip, November has proven to be a profitable month for the cryptocurrency sector, particularly for Bitcoin. Beginning the month at $34,397 (approximately Rs. 28.6 lakh), Bitcoin has witnessed growth over the last three weeks, reaching up to $38,000 (approximately Rs. 31.6 lakh).
Ether also saw a 1.48 percent drop in price on Monday, with the second-largest cryptocurrency by market capitalization currently trading at $2,043 (approximately Rs. 1.70 lakh). Analysts suggest that a successful breakthrough and sustained hold above $38,000 would be considered a bullish sign for Bitcoin, while Ether needs to overcome the crucial resistance at $2,130 for a bullish scenario.
Majority cryptocurrencies recorded losses today. These include Binance Coin, Ripple, Solana, Cardano, and Dogecoin.
Tron, Chainlink, Polygon, Avalanche, Polkadot, Litecoin, Shiba Inu, and Bitcoin Cash are also all trading in losses today.
The overall crypto market valuation dipped by 1.12 percent in the last 24 hours. It currently holds the value point of $1.42 trillion (roughly Rs. 1,18,39,313 crore), showed CoinMarketCap.
In today’s market, only a few cryptocurrencies showed gains. These include Leo, Cosmos, Uniswap, Binance USD, and Iota. Additionally, Braintrust and Circuits of Value also exhibited minor gains.
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.