Bitcoin rises over $40,000, other cryptocurrencies stable
India Today
Bitcoin's price was up by 0.21 per cent to $40,114. Ethereum was up by 1.72 per cent at $3,056.
Bitcoin, Ethereum and most other Cryptocurrencies stabilized on Wednesday. Bitcoin gained a little to hover over $40,000-mark. The Russia-Ukraine war, inflation, rising interest rates, and slower economic growth have impacted investors' sentiments.
Bitcoin's price was up by 0.21 per cent to $40,114. Ethereum was up by 1.72 per cent at $3,056.
"Bitcoin and Ethereum have gained a bit on Tuesday. BTC and ETH are trading above US$40,000 and US$3,000 levels over the past day as buyers started to respond to short-term oversold conditions," Edul Patel, CEO and Co-founder of Mudrex, said.
Other crypto currencies, such as XRP was up by 1.92 per cent, Terra was up by 1.55 per cent, Solana gained 1.92 per cent, Cardano was up by 1.54 per cent, Avalanche was up by 1.01 per cent, and Polkadot gained 1.28 per cent.
Other popular alt coins such as Dogecoin was up by 2.11 per cent and Shiba Inu gained 18.41 per cent.
"Most altcoins have gained more than decent growth. It seems like traders are redistributing their funds between altcoins to avoid Bitcoin exposure. Shiba Inu, Polygon, Solana, and Compound have gained more than decent growth after they were listed on the trading platform Robinhood. On the other hand, ApeCoin has also retired to the market with nearly 12 per cent growth in the past 24 hours," Patel said.
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