Bitcoin advances for 9 straight days, trades above $18,000. Check crypto prices

Market


Bitcoin price today gained to trade above $18,000 as the world’s largest and most popular digital token was trading with gains of more than 4% at $18,224. Bitcoin has advanced for nine straight days, the longest such streak since 2020, according to data compiled by Bloomberg. Bitcoin has added more than 10% this month and second-largest token Ether about 17%. 

Overall, the global cryptocurrency market cap today remained below the $1 trillion mark, even as it was up over 4% in the last 24 hours to $926 billion, as per the data by CoinGecko.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also gained about 5% to $1,401. Meanwhile, dogecoin price today was also trading over 5% higher at $0.08 whereas Shiba Inu surged over 6% at $0.000009.

“Bitcoin (BTC) traded above $18,000 and experienced an upward movement in the past 24 hours. Despite initially facing resistance at that level, it eventually broke through. Overall, BTC started the year on a positive note. It was trading at around $16,500 on January 1st, but by the end of the first week, it had increased to nearly $17,000. BTC’s existing market capitalization is above $335 billion. However, its dominance over other cryptocurrencies (altcoins) is around 39%, which is a 1% decrease since last week,” said Edul Patel CEO & Co-Founder, Mudrex.

Other crypto prices’ today performance also improved as Tether, Stellar, XRP, Polkadot, Chainlink, XRP, Solana, Avalance, Polygon, Apecoin, Tron, Solana, Litecoin, Uniswap prices were trading with gains over the last 24 hours.

Bets that inflation is cooling and that the Federal Reserve will slow the pace of interest-rate hikes have helped all manner of assets at the start of 2023. For Bitcoin, the recent gains are a stark contrast to last year’s slump of more than 60% amid a series of crypto blowups, including the fall of the FTX exchange.

(With inputs from agencies)

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.


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