[ad_1]
Cryptocurrency price today: The world’s most popular cryptocurrency on Monday, March 28, set a record for the year as the digital currency touched a three-month high, surpassing $47,000 earlier in the day. This came after volatile markets amid the Russia-Ukraine war, the Covid-19 virus and other factors sent the cryptocurrency to its lowest level in months, even dropping below $35,000 at the start of the year. With the exception of stablecoins, all major cryptocurrencies were trading higher on Monday. On the other hand, the high trading volume gave a much needed boost to the investors who earlier refrained from investing in risky assets.
At the time of writing this article, it was the price of one bitcoin It amounted to $46,900.90, according to data from global cryptocurrency tracking site CoinMarketCap. This has risen by 4.88 percent in the last 24 hours. Bitcoin prices Data from the same site showed a jump of 14.78 percent over the past week.
Bitcoin’s recent rally has some crypto investors rallying as bitcoin hits a three-month high. The massive bitcoin bought by Luna Foundation Guard as part of its plan to create $3 billion in bitcoin reserves, said Charles Tan, Head of Marketing at Coinstore. It may have a factor in driving the Bitcoin price to this level.
“Bitcoin after gaining multiple support at the uptrend line is showing good strength and prices are in the green for the seventh day in a row. The asset was facing strong resistance at $45,500. However, the bulls managed to overcome the key level and prices are trading above the horizontal trend line. and the 200-day moving average. If BTC maintains and closes above $45,500, we can expect the price to rise further from $50,000 to $52,500,” ZebPay trade desk said.
“Over the past few weeks, we have seen the number of bitcoins held on exchanges steadily decrease. From March 10th to March 27th, we saw over 50,000 bitcoins leave exchanges for private wallets. Only 13.2 percent of all BTC in circulation is held. This shows that people want to hold their cryptocurrencies, rather than trading them back and forth on the exchanges, said Darshan Batiga, CEO and co-founder of Fold.
Ethereum, the second most popular cryptocurrency in the world, also rebounded on Monday. One unit of the altcoin is trading at $3,315.71 at the time of writing, which is 5.27 percent higher over the past 24 hours. Last week, Ether prices jumped 15.74 percent, according to CoinMarketCap data.
“We may expect a slight price correction soon as investors may strengthen their portfolio as we approach the end of the quarter to the end of the fiscal year in India and some countries,” Tan added.
However, Batiga predicted that the bitcoin price could rise further in the coming days. Derivatives data also indicates that most Bitcoin call options are stacked at the strike price of $50,000. This suggests that a lot of people are comfortable buying Bitcoin at $50,000, so there is more room for price appreciation in the near term.”
Here are the top 10 cryptocurrencies and their prices on March 28, 2022 (data from coinmarketcap.com)
Bitcoin $46,900.90, or 4.88 percent, gain in the last 24 hours
Ethereum $3,318.25, or 5.35 percent, gain in the last 24 hours
Link a loss of $1.00 or 0.02 percent in the last 24 hours
BNB $433.62 or 3.96 percent gain in the last 24 hours
USD Coin Gain of $1 or 0.001 percent over the past 24 hours
XRP $0.8653 or 3.22 percent gain in the last 24 hours
Cardano $1.18, or 3.71 percent, gain in the last 24 hours
Solana $108.79, or 6.66 percent, gain in the last 24 hours
Terra $95.06, or 4.32 percent, gain in the last 24 hours
Avalanche $90.91, or 5.72 percent gain in the last 24 hours
Read all files latest news And the Breaking news And the IPL 2022 Live Updates over here.
[ad_2]
Source link
