After the huge crypto crash, the Bitcoin price is hovering around 20,000$ while Ether rose in value prior to the Ethereum merge.
Bitcoin price rises compared to last week
After dropping more than 4% of its value over the weekend, Bitcoin, the world’s largest cryptocurrency by market capitalization, put other crypto assets into a go-slow mode. However, things are looking well for the start of the week. Bitcoin’s value has increased by 0.65 percent in the previous day, with its price remaining below $20,000 on worldwide exchanges, while CoinSwitch Kuber values BTC at $19,873, up 0.65 percent from yesterday.
Bitcoin is presently trading at $19,875 on worldwide exchanges such as CoinMarketCap, Coinbase, and Binance, while CoinGecko statistics reveal that BTC is currently 1.1 percent higher than it was last Monday.
Ether rises on its way to the Ethereum merge
As we enter the week of the much-anticipated ‘Merge,’ Ether has continued to rise in value, adding more to its worth over the weekend. As of now, Ether is valued at $1,576 on CoinSwitch Kuber, with the cryptocurrency valued at $1,576 on worldwide exchanges, where it has gained 1.7 percent in the last 24 hours.
Ether’s performance in the latter stages of last week saw the cryptocurrency’s value go significantly higher than it was the previous week, according to CoinGecko statistics, the world’s second-largest crypto asset has increased in value by 9.5 percent week on week. Over the last 24 hours, most major altcoins saw minor gains. The worldwide crypto market capitalization increased by 0.81 percent between late Sunday and early Monday. In the last 24 hours, Polkadot, Uniswap, Cosmos, Solana, Monero, Cosmos, Avalanche, Cardano, Polygon, TRON, and BNB all saw minor gains.
Memecoins Shiba Inu and Dogecoin followed most cryptocurrencies with slight price increases. Dogecoin is presently around $0.06, up 0.85 percent in the last 24 hours, while Shiba Inu is worth $0.000013, up 3.76 percent in the last day. Edul Patel, CEO and co-founder of crypto investing business Mudrex, told Gadgets 360:
“The global crypto market has been on a bearish trend as sellers have become more active since the past week. Bitcoin has been struggling to cross above the $20,000 level. BTC is currently nearly 71 percent down from its all-time high. If BTC can trade above the overhead resistance level, bulls might attempt to recapture the $20,000 price level soon. But if BTC keeps facing continued rejections, it might dip to the $18,000 support level,”
“The second largest cryptocurrency, Ethereum, is also struggling near the $1,600 (roughly Rs. 1.27 lakh) resistance level. A bearish trend at the $1,400 (roughly Rs. 1.11 lakh) zone can result in a price drop of ETH to the next support level at $1,260 (roughly Rs. 1 lakh). Overall, a bearish trend persists in the crypto market, and we might see a correction in the coming weeks,”
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