Crypto Price Today: Bitcoin Surpasses $40,000, Achieving Its Highest Price in 2023, Accompanied by Volatility in Altcoins
As of now, Bitcoin’s market dominance is reported to be 52.4 percent, according to CoinMarketCap.
On Monday, December 4, Bitcoin recorded a 2.66 percent profit on the cryptocurrency price chart, reaching a value of $40,578 (approximately Rs. 33.7 lakh), marking its highest price point for the year 2023. Over the weekend, Bitcoin saw an increase in value of $2,854 (roughly Rs. 2.37 lakh). Currently, Bitcoin’s market dominance stands at 52.4 percent, as reported by CoinMarketCap. Despite Bitcoin’s rally, many other cryptocurrencies on the chart did not experience significant gains.
Ether posted a gain of 2.53 percent on Monday, with its value at $2,214 (approximately Rs. 1.84 lakh) at the time of writing. Over the weekend, Ether’s price increased by $125 (roughly Rs. 10,400).
The CoinSwitch markets desk commented, “Bitcoin has reached its highest price point so far since April 2022 for the first time. Traders are expected to be cautious to book profits as historically, December usually marks local top/bottom for crypto.”
Other cryptocurrencies experiencing gains today include Ripple, Cardano, Tron, Polygon, and Litecoin.
Minor profits were also observed in Shiba Inu, Bitcoin Cash, Cosmos, Stellar, Near Protocol, and Elrond.
Edul Patel, Co-Founder and CEO of Mudrex, attributed the price movement to bullish market sentiment and the anticipation of positive developments in 2024, such as a Bitcoin Spot ETF in the US and the upcoming Bitcoin halving. Bitcoin’s price has grown by over 140 percent since the beginning of the year.
The overall crypto market cap increased by 2.76 percent in the last 24 hours, reaching a valuation of $1.52 trillion (approximately Rs. 1,26,64,906 crore), making it the highest valuation the crypto market has seen this year.
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