Crypto Price Today: Bitcoin trades near $44,000, Ether, Tether, Solana suffer losses

On Thursday, December 7, Bitcoin managed to make a modest gain of 0.43 percent. At the time of writing, Bitcoin was trading very close to the $44,000 (roughly Rs. 36.6 lakh) mark – right at a price point of $43,922 (roughly Rs. 36.6 lakh). The value of Bitcoin has increased significantly by $252 (approximately Rs 21,009) in the last 24 hours. Studying the bullishness, market analysts estimate that Bitcoin may trade above the price point of $50,000 (approximately Rs 41.6 lakh) by the end of the year 2023.

“From a technical perspective, BTC is currently situated at the resistance level of $44,000 (approximately Rs 36.6 lakh). The overall momentum remains positive, with no clear signs of a reversal or bearish trend. Minor pullbacks and corrections are considered healthy for the current scenario,” the CoinDCX research team told Gadgets360.

In an unconventional market movement, Ether made no gains on Thursday. After incurring a loss of 1.38 percent, Ether is trading around the price point of $2,250 (approximately Rs 1.87 lakh).

“Ether is trading between two important levels of $2,130 (approximately Rs 1.77 lakh) and $2,450 (approximately Rs 2 lakh). Minor pullbacks and corrections are considered healthy for the current scenario,” the CoinDCX team said.

Among other profit-making cryptocurrencies, Binance Coin, Ripple, Cardano, Dogecoin and Tron made their presence felt.

Polygon, Polkadot, Shiba Inu, Leo, Stellar and Monero also managed to post small gains.

The total valuation of the crypto sector increased by 0.56 percent in the last 24 hours. As of Thursday, the crypto market cap is $1.6 trillion (about Rs 1,33,37,600 crore) coinmarketcap,

“Driven by Bitcoin’s remarkable rally, the market is indicating a strong ‘buy’ sentiment. Memecoins, including Shiba Inu and Dogecoin, are riding a new wave of momentum, experiencing significant price increases amid the broader market rally. “With over 53 percent market dominance, Bitcoin is not only shaping the crypto landscape but also paving the way for remarkable growth across the entire ecosystem,” Rajagopal Menon, vice president at WazirX, told Gadgets360.

Meanwhile, other cryptocurrencies trading with losses along with Ether include Tether, Solana, Avalanche, Chainlink, Litecoin, Bitcoin Cash, Cosmos, and Uniswap.

“However, in a very contrasting move, the CEO of JPMorgan expressed his strong dislike for crypto assets like Bitcoin. During a Senate Banking Committee hearing, CEO Jamie Dimon called for a government shutdown over crypto. It is noteworthy that cryptos, due to their inherent nature, have the properties of censorship resistance. Even if one holds adverse views, they may face practical challenges in hindering the operation of a truly decentralized cryptocurrency like Bitcoin,” CoinSwitch Markets Desk told Gadgets360.


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