The price of Bitcoin increased by $270 (approximately Rs. 22,460) on Friday.
Prices of most cryptocurrencies rose on Friday as most digital assets saw their values rise. Bitcoin managed to stay above the $43,000 mark after seeing a minor spike of 0.30 percent. Over the last 24 hours, Bitcoin rose in value by $270 (roughly Rs. 22,460) and is now worth $43,942 (roughly Rs. 36.5 lakh). The anticipated Spot BTC ETF approval continues to sustain investor confidence. Given the recent price action, the market is expecting low volatility for BTC in the coming days.
“The crucial meeting between Blackrock, Nasdaq, and SEC regarding Bitcoin ETF sent strong positive signals leading to positive market sentiment. Solana is leading the altcoin rally with over 16 percent surge in 24 hours. As we enter the last week of 2023, the crypto market is gathering more steam to sustain the momentum into 2024,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.
Ether followed Bitcoin’s price rally on Friday. With a price hike of 2.69 percent, Ether is currently trading at $2,273 (roughly Rs. 1.90 lakh).
Most cryptocurrencies saw their prices rise on Friday. These include Binance Coin, Ripple, Cardano, and Dogecoin with Solana leading the altcoin rally with over 16 percent surge in 24 hours.
Polygon, Polkadot, Wrapped Bitcoin, Shiba Inu, Litecoin, and Bitcoin Cash also joined BTC and ETH on the profit side of the price chart alongside Shiba Inu, Stellar, and Monero.
Meanwhile, loss-ridden cryptocurrencies on Friday include USD Coin, Leo, Elrond, Binance USD, and Braintrust.
“With a 16 percent gain month-to-date and an impressive 165 percent increase year-to-date, the market is riding high on Argentina’s official approval of Bitcoin as its currency. Furthermore, El Salvador’s recent legislation, offering citizenship to foreign Bitcoin investors, adds to the positive sentiment,” said Edul Patel, Co-Founder and CEO of Mudrex. The overall crypto market cap increased by 2.57 percent in the last 24 hours, reaching a valuation of $1.67 trillion (approximately Rs. 138,92,312 crore).