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The Cryptocurrency Market Bounced Back
The last month saw a sharp decline in the digital currency market during January, but it has returned sharply since the beginning of February. Prices of all digital currencies are rising.
The price of Bitcoin, the largest cryptocurrency, rose from 38 38,000 on February 1 to over 42,000 on Monday. I succeeded but later the said level could not be maintained. Experts in the crypto market believe that resistance is being seen at the level of 43,000 but given the interest of retail investors, it is expected that the trend will continue in the long run.
The cryptocurrency market rallied sharply on Friday, with the bitcoin reaching 40,000 to 42,000 over the weekend, and on Monday the pace slowed slightly, with the overall value of the bitcoin rising 13 percent in one week. Since January 1, the bitcoin's price has risen 29 percent.
Cryptocurrency Price
Similarly, Ethereum, the second largest digital currency, was priced at 2,169 dollar on January 24, after which the price of Ethereum has risen to 65 3,065 as a result of the recent surge, meaning that Ethereum has risen 41 percent so far.
How Cryptocurrency Works
On the other hand, prices of other digital currencies also rose and during the 24 hours of trading on Sunday and Monday, the price of Cardano was up 4.66%, Doji Coin 2.23%, Polka Dot 2.24% and Sheba Ano 5.07. Percentage increase was recorded.
The rise in the value of most currencies pushed market capitalization to over 1960 1960 billion, up 2.87% in one day, while the investment value of the bitcoin, which was 73 734 billion on February 1, has risen from 800 800 billion to 7 billion. The value of the bitcoin has risen by about 60 billion dollar a day.
Which Country Cryptocurrency most Use
United States uses cryptocurrency most in the whole world
According to some reports, investors who took short positions on the fall in prices suffered losses due to rising prices and investors who took short positions on bitcoin alone lost 60 million while the short in the overall corrupt market. Position holders have lost 12.5 million.
Investors are responding positively to the Indian government's hint of regulating corruption, with tightening of monetary policy in most countries putting pressure on stock markets, while oil and gold prices There is not much scope in the market, which has attracted investors to the digital currency market, but experts say that along with positive developments, periodic profit-taking will continue.
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