Crypto Price Today: Bitcoin, Ether continue to rise, most altcoins see gains compared to losses

Wednesday, December 6, saw a significant increase in the price of Bitcoin compared to the previous day. Bitcoin is currently trading at a price of $43,740 (approximately Rs 36.4 lakh) with a gain of 4.33 percent. This is now the highest price point for Bitcoin in the last 19 months. In the last 24 hours, Bitcoin has managed to register a price increase of $2,002 (approximately Rs 1.66 lakh). Market analysts have predicted that Bitcoin is set to end the year of 2023 on an ‘extremely high note’.

Ether continued its journey up the price ladder today. With a gain of 1.65 percent, ETH is currently trading at $2,268 (approximately Rs 1.90 lakh). The value of Ether managed to increase by $40 (approximately Rs 3,334). Meanwhile, Ethereum is up 11 percent over the past week

“Wall Street giants like BlackRock, Fidelity and Franklin Templeton are trying to list Bitcoin ETFs in the US and this is driving the FOMO factor in the market. “If the current momentum continues, Bitcoin is well positioned to touch the $100,000 (roughly Rs. 83.3 lakh) mark by the end of 2024, as predicted by banking giant Standard Chartered,” comments Shivam Thakral, CEO of Bitcoin. Told Gadgets360. Market conditions.

Tether, Ripple, Solana, Cardano, Tron and Chainlink are all trading in gains.

Polygon, Litecoin, Polkadot, Shiba Inu, Bitcoin Cash, Cosmos, Stellar and Near Protocol are also trading in the green today.

The total crypto market cap has hit $1.6 trillion for the first time in nearly two years. It increased by 2.98 percent in the last 24 hours coinmarketcap,

“This price change may be a result of increased interest from institutional investors and general bullish sentiment in the market regarding 2024. Interestingly, this coincides with BlackRock reporting to the SEC that they received seed funding for their spot Bitcoin ETF due in October 2023. Edul Patel, co-founder and CEO of Mudrex, told Gadgets360.

At this point, only a few cryptocurrencies are trading at a loss today. These include Binance Coin, Wrapped Bitcoin, Uniswap and Elrond.

According to DefiLlama, “DeFi’s total value locked has also reached a 6-month high. The total DeFi TVL across all protocols has crossed $50 billion (roughly Rs. 4,16,728 crores) as investors continue to deposit more money into smart contract protocols, CoinSwitch Markets Desk told Gadgets360.

Cryptocurrency is an unregulated digital currency, not legal tender and subject to market risks. The information provided in the article is not intended to constitute financial advice, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV will not be responsible for any loss incurred from any investment based on any speculative recommendation, forecast or any other information contained in the article.

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