Bitcoin on Tuesday, November 21 showed a spike in its value from previous day's pricing. Reflecting a profit of 0.44 percent, Bitcoin is presently trading at $37,472 (roughly Rs. 31.2 lakh). In the last 24 hours, the value of Bitcoin rose by $231 (roughly Rs. 19,250). Market analysts predict that in the coming days, Bitcoin may touch the mark of $41,500 (roughly Rs. 34.5 lakh) but could also see its value dropping to as low as $33,500 (roughly Rs. 27.9 lakh).
Ether showed a growth of 0.54 percent on the price chart on Tuesday. The price of Ether, at the time of writing, stood at $2,013 (roughly Rs. 1.6 lakh). Over the last day, the value of ETH has grown by $16 (roughly Rs. 1,333).
Alongside BTC and ETH, a bunch of other cryptocurrencies also managed to mint small profits. These include Tether, Binance Coin, USD Coin, Wrapped Bitcoin, and Binance USD.
Some underdog cryptocurrencies that are already trading in the greens include Iota, Nem, Qtum, and Mobox among others.
“With OpenAI founder Sam Altman in the news over the weekend, AI-related tokens have also experienced volatility in the past few days, as Sam's crypto project World Coin, touched its four-month high at $2.71 (roughly Rs. 0.033). Other AI-related tokens like RNDR also crossed its 21-month high and have almost doubled in just one month,” the CoinSwitch research team told Gadgets360.
The overall crypto market cap rose by 0.42 percent in the last 24 hours to now sit at the valuation of $1.42 trillion (roughly Rs. 1,18,35,799 crore) as per CoinMarketCap.
Meanwhile, several cryptocurrencies recorded losses today. These include Ripple, Solana, Cardano, Dogecoin, Tron, and Chainlink.
Losses also struck Polygon, Avalanche, Polkadot, Litecoin, Shiba Inu, and Bitcoin Cash on Tuesday.
Despite today's slow growth, market experts remain optimistic and hopeful about better days for the digital assets sector.
“The market surge over the last 24 hours has been driven by Bitcoin and Ethereum mimicking a past trend of price increase following ETF announcements. Binance's settlement with the US Department of Justice also led to a rise in BNB token's price. The market upswing favoured altcoins such as XRP which has been on an upward trajectory since Bitcoin's price took off in October. This might indicate a rising interest in trading activities across platforms,” Rajagopal Menon, Vice President, WazirX told Gadgets360.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
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