On Tuesday, the price of bitcoin crossed $50,000 for the first time in a month. The world’s largest cryptocurrency rose 5.15 per cent daily to $50,001.04 on October 5. The most popular cryptocurrency remained under pressure throughout the month in September. On September 21, bitcoin fell to $40,596 amid widespread volatility in cryptocurrency stocks. However, due to the support from crypto investors and enthusiasts across the globe, it bounced back to the $50,000 mark within two weeks.
“Over the past 24 hours, most of the top cryptocurrencies have managed to maintain their important support levels. Both Bitcoin and Ethereum are looking strong on the daily time frame price charts. Market participants will be closely monitoring the movement of both, and altcoins Fast forward to soon,” said Edul Patel, Chief Executive Officer and Co-Founder, Mudrex- a global crypto trading platform. The world’s largest cryptocurrency by market capitalization gained 19.37 percent in the week, according to Coinmarketcap.com.
Ether and other popular cryptocurrencies including Binance Coin and Cardano have also seen an increase. While Ether jumped 3.51 percent to $3,453 in the past 24 hours, Binance Coin gained 4.57 percent to $439.08. Cardano rose 2.14 per cent daily.
Cryptocurrency investment products and funds registered inflows for the seventh week in a row. Bitcoin saw its third straight week of inflows. “Bitcoin has seen an impressive recovery after the late September crash. Volume has shown good traction, and momentum is also strong. Bitcoin sees a strong resistance at $50,000, and if it can beat that level. If it breaks the psychological resistance of $50,000, we can expect the price to cross the $53,000 mark. $57,000, said ZebPay Trade Desk for your reference.
read all breaking news, breaking news And coronavirus news Here. follow us on Facebook, Twitter And Wire.
.