Bitcoin Advances 9 Consecutive Days, Trades Over $18,000. Check the prices of cryptocurrencies

Bitcoin price gained over $18,000 today as the world’s largest and most popular digital token traded with gains of more than 4% to $18,224. Bitcoin advanced for nine straight days, the longest streak since 2020, according to data compiled by Bloomberg. Bitcoin has added over 10% this month and the second largest token Ether around 17%.

Overall, the global cryptocurrency market cap today remained below $1 trillion, though it jumped more than 4% to $926 billion in the past 24 hours, according to data from CoinGecko.

On the other hand, Ether, the coin tied to the Ethereum blockchain and the second largest cryptocurrency, also gained about 5% to $1,401. Meanwhile, the price of dogecoin today also traded more than 5% higher to $0.08, while Shiba Inu is up more than 6% to $0.000009.

“Bitcoin (BTC) traded above $18,000 and has seen an upward move over the past 24 hours. While it initially encountered resistance at that level, it eventually broke through. Overall, BTC started the year with a positive note. It was trading at around $16,500 on Jan. 1, but had increased to nearly $17,000 by the end of the first week. BTC’s existing market capitalization is more than $335 billion. However, its dominance over other cryptocurrencies (altcoin) is up about 39%, which is a 1% decline from last week,” said Edul Patel CEO and co-founder, Mudrex.

Other cryptocurrency price performance today also improved as Tether, Stellar, XRP, Polkadot, Chainlink, XRP, Solana, Avalance, Polygon, Apecoin, Tron, Solana, Litecoin, Uniswap prices traded with gains in last 24 hours.

Bets that inflation is cooling down and that the Federal Reserve will slow the pace of interest rate hikes have helped all types of assets into early 2023. For Bitcoin, the recent gains are in stark contrast to the last year’s slump of more than 60%. amid a series of cryptocurrency explosions, including the fall of the FTX exchange.

(With contributions from agencies)

The views and recommendations above are those of individual analysts or brokerage firms, and not of Mint.


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