Today, the price of Bitcoin is edging closer to the $45,000 mark, while several other cryptocurrencies are experiencing a recovery

In the past 24 hours, the value of BTC has increased by $1,693, which is approximately Rs. 1.4 lakh.Bitcoin on Thursday, February 8, recorded a profit of 3.66 percent. With this, the value of the cryptocurrency has escalated to $44,505 (roughly Rs. 36.9 lakh). In the last 24 hours, the value of BTC has risen by $1,693 (roughly Rs. 1.4 lakh). As per market experts, this bullish move for BTC indicates a potential for further upward momentum, with next levels at $45,400 (roughly Rs. 37.6 lakh) and $48,000 (roughly Rs. 39.8 lakh).

Ether minted a profit of 2.80 percent on Thursday. The second most valuable cryptocurrency, at the time of writing, is trading at $2,425 (roughly Rs. 2 lakh). In the last 24 hours, the value of ETH rose by $64 (roughly Rs. 5,310).

“It’s worth noting that historically, February has been one of the best months for Bitcoin. It broke out of its consolidation phase in a smaller timeframe, reaching the upper level of its range. Altcoins also closed in the green, benefiting from BTC’s rally.

Binance Coin, Solana, Ripple, Dogecoin, Cardano, and Avalanche — all recorded gains on Thursday.

Tron, Polkadot, Polygon, Shiba Inu, Litecoin, Bitcoin Cash, and Uniswap among others also reflected profits alongside BTC and ETH.

In the last 24 hours, the overall crypto market cap has increased by 3.31 percent, reaching a valuation of $1.71 trillion (approximately Rs. 1,41,91,657 crore) according to CoinMarketCap.

On Thursday, only a few altcoins experienced losses, including Tether, USD Coin, Chainlink, Braintrust, and Augur.

The highly anticipated Dencun upgrade, which introduces “proto-danksharding,” has completed its final stage of testing on one of the Ethereum testnets. It is now awaiting a final date for mainnet deployment. With Ethereum Layer 2 solutions (L2s) gaining traction due to lower transaction costs, L2s could be the coins to watch out for in the coming weeks.

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