Amidst the bearish crypto market, Bitcoin and other cryptocurrencies have seen a surge for the second consecutive day. This is some relief for investors hurt by the cryptocurrency meltdown, as Bitcoin has been trading in the green for the past week, consistently rising.
Bitcoin was trading at Rs 14,34,000 last week. Today it is trading at Rs 16,11,429 with a gain of 10.52%. Bitcoin has given a return of 3.5% to investors in a single day. According to the CoinSwitch app, Bitcoin started today at Rs 15,07,817. Till 10:00 am on the day, it is trading at Rs 16,11,429 with a gain of 3.5%.
Bitcoin price according to CoinMarketCap is $18,824.04 USD with a 24-hour trading volume of 1. Bitcoin is currently ranked #1 on CoinMarketCap over the last 24 hours, with a live market cap of $362,559,538,591 USD. It has a circulating supply of 19,260,450 BTC coins and a max. Supply of 21,000,000 BTC coins.
Ethereum, the second-largest cryptocurrency, has also seen a second consecutive day of gains. This coin has given investors a return of 11.57% over the past week. The price of Ethereum was ₹105,415 a week ago.
Which is trading above 120000 today. The Ethereum coin started today at Rs 114288, and is trading at Rs 120000 till 10:00 of the day. The Ethereum coin has given a return of 0.75% to the investors today.
According to CoinMarketCap, the Ethereum price has a 24-hour trading volume of $10,879,085,027 USD. Ethereum is up 0.67% over the last 24 hours. The current CoinMarketCap ranking is #2, with a live market cap of $172,561,666,679 USD. It has a circulating supply of 122,373,866 ETH coins and a max. Supply not available.
According to experts, the rising prices in the cryptocurrency market are due to economic stability and improvement, which is fueling the rise in cryptocurrency. Experts say that given the continued rise in Bitcoin, it could surpass its original target of 6.5 million by the end of 2023.
Bitcoin has been struggling with the Great Recession for the past two decades. But now it’s showing signs of revival, giving investors some hope that it could return their lost money this year.
FAQs
Q1: Why are Bitcoin and Ethereum rising again?
Because of improving global economic conditions, stronger investor sentiment, and increased institutional interest in cryptocurrencies.
Q2: How much has Bitcoin increased recently?
Bitcoin has surged by 10.52% in a week and 3.5% in the last 24 hours, reaching ₹16,11,429.
Q3: What’s the performance of Ethereum this week?
Ethereum has climbed 11.57% over the past week and 0.75% in the last 24 hours, trading above ₹120,000.
Q4: What do experts predict for Bitcoin in 2023?
Experts predict Bitcoin could reach Rs 6.5 million by the end of 2023 if current growth momentum continues.
Q5: Will other cryptocurrencies follow Bitcoin and Ethereum?
Historically, altcoins follow major cryptocurrencies like BTC and ETH — so continued gains in these two could lift the broader market.
Wrapping Up
The second consecutive day of growth in Bitcoin and Ethereum has renewed optimism in the crypto market. After a prolonged bearish phase, investors are finally seeing positive returns. If this momentum continues, 2023 could mark the beginning of a sustained recovery across major cryptocurrencies.
