Bitcoin Nears $31,000 Mark. Here Are The Reasons For Its Recent Boom
NDTV
The value of the largest cryptocurrency by circulation went up by over 9.5 per cent in the past seven days and is nearing the $31,000 mark now.
Cryptocurrency Bitcoin is witnessing a boom and the coin managed to gain 2.19 per cent and traded at $30,543.48 on Monday. The value of the largest cryptocurrency by circulation went up by over 9.5 per cent in the past seven days and is nearing the $31,000 mark now.
Bitcoin price witnessed sluggish growth and lost significant value in the crypto crashes in recent years. Bitcoin managed to attain an all-time high of $68,789.63 on November 10, 2021, before it started dropping in value. The tables have turned now owing to the recent surge rally in the crypto domain.
At the time of writing, Bitcoin held a market capitalization of $596.19 billion, up by 2.2 per cent, according to CoinMarketCap statistics. In addition, the 24-hour trade volume saw a substantial hike of 22.5 per cent and was recorded at $16.14 billion. In the past month, the cryptocurrency behemoth gained 14.91 per cent in value.
