Bitcoin reclaims $62,000 Mark after temporarily falling below $60,000 on November 1, 2021.
Bitcoin’s market value went from $1.13 trillion to $1.17 trillion in just over three hours during Monday’s early morning trade, which is an increase of $40 billion.
According to CoinMarketCap.com, bitcoin is currently trading at $62,185. This is up 1.85% over the last day and down 0.985% over the preceding seven days. This is putting it at a market cap of over $1.17 trillion.
? Bitcoin Reclaims $62,000 Mark
According to crypto trading specialist Michael van de Poppe, Bitcoin regaining $60,000 signifies that the price movement of the commodity is “going according to plan. “.
Following an all-time high monthly close in October, Certified Technical Analyst (CTA) forecasts that Bitcoin will reach $100,000 in December. But they also say that “some are afraid to confess that because they’re short from $30k.”
With the return of favorable seasonality and the launch of futures-based Bitcoin exchange-traded funds (ETFs) in the United States, the leading cryptocurrency saw a rise of almost 40% in October, hitting a new all-time high of $66,975. For one thing, it was the biggest monthly percentage increase since December 2020.
Following the October spike in cryptocurrency prices, major banks in the United States, the United Kingdom, as well as Australia will meet to discuss inflation and possible policy responses.
? Altcoins: ETH, Doge, and SHIB
Ethereum (ETH) is now trading at $4,309, up 0.70 percent on the day and 4.04 percent over the last week after hitting a new all-time high of $4,400 on October 29.
However, meme cryptocurrencies like Dogecoin (DOGE) and Shiba Inu (SHIB) have seen a considerable rise in value during the last day or two. DOGE has risen more than 2.6 percent in the last day, while Shiba Inu has gained over 11.8 percent.
Mana (MANA), meantime, has dropped 20.27 percent today, despite a 247.87 percent week-over-week increase, changing hands at $2.72. On October 30, Mana’s price rose to $5.