BTC Jumps Above $43,000 After Brief Drop; Altcoins Follow

Bitcoin, along with most cryptocurrencies, saw gains on Thursday, November 21. Bitcoin managed to increase its value by 2.26 percent in the last 24 hours. With this, Bitcoin was able to regain the price point of $43,672 (about 35 million rubles). During the last day, the value of Bitcoin increased by 1608 dollars (approx. 1.33 Lari). According to market analysts, BTC's next hurdle is $44,500 (approx. 37 GEL) and a breach above this could push the price to the $48,000 (approx. 39.9 GEL) resistance level.

On Thursday, Ether was up significantly by just 0.07 percent. At the time of writing, the price of ETH is USD 2203 (approx. 1.83 GEL).

“Historically, December is a major price action month and it remains to be seen whether BTC has already made a local top or the bull market is just starting to heat up,” the CoinSwitch Markets Desk told Gadgets360.

Ripple, Solana, Cardano, Dogecoin, Polkadot, Polygon, Chainlink and Shiba Inu are among the other cryptocurrencies trading on Thursday.

“One of the hottest investments of the season, Solana is also continuing its rally, with SOL (+11.9 percent) touching the $80 (approx. Rs. 6,658) mark for the first time since May 2022, except that it is just pulling away. 4th largest crypto after BTC, ETH and USDT and surpassing BNB,” CoinSwitch Markets Desk told Gadgets360.

Bitcoin Cash, Uniswap and Stellar also managed to make small gains.

The total market cap of the cryptocurrency increased by 2.03 percent in the last 24 hours to a value of $1.63 trillion (approximately Rs. 135,71,298 crores). CoinMarketCap.

Meanwhile, some of the altcoins that registered losses on Thursday include USD Coin, Litecoin, Cronos, Sushiswap and Braintrust.

“VCs are expected to re-engage in Web3 after a lackluster year, focusing on areas such as gaming. This could increase the stakes in the coming months. The SEC's continued engagement with stakeholders such as BlackRock and Grayscale indicates their willingness to anticipate that this development will happen during the decided approval window,” WazirX Vice President Rajagopal Menon told Gadgets360.

Market experts also highlighted that crypto-related stocks are doing quite well as the market is showing a “strong buy” sentiment. While there is bullish sentiment based on Bitcoin's RSI, its Bollinger Band indicates the potential for price volatility.

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