Bitcoin Price surges over 5%
The world’s largest cryptocurrency Bitcoin was up over 5% to $65,353 from $65,000. As of the source, the most known digital token remains raised over 121% on a year-to-date basis. However, the Bitcoin Price raised in October after hitting a record high of near $67,000.
In recent days, the adoption of Bitcoin among investors and governments around the world helped to increase Bitcoin’s value. Market data remain shown as the value of Bitcoin raised over 50% of the $2.7 trillion market capitalization of all cryptos combined.
The current market cap of this digital coin remains at $1.23 trillion. In the last 24 hours, it was declined by $3,577.40. The all-time high does state at $66,974.77 and the 52-week low was at $14,827.69.
As of IST 11:26 AM, the price of Bitcoin traded at $65,568.29. The price of bitcoin ( Crypto Currency) hovered comfortably over $60,00. It rose 2.4% in the past 24 hours to $62,877.06 as of publication.
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As bitcoin’s trading volume stood thin across the centralized exchanges tracked by the official site, bitcoin’s market capitalization experienced low volatility over the weekend.
It appears buyers are holding support above $60,000 for Bitcoin (BTC) as the price is trading in a tight range. A series of price breakouts over the past month suggests that pullbacks could be limited in the short term.
A pullback could remain stabilized if buyers fail to hold $60,000 or lower support around the 50-day moving average, currently near $55,000.
On Friday, it was flat but rose over the weekend to nearly $63,000, up almost 4%.
Currently, the upside drive has slowed, which suggests a period of consolidation is likely in the near future. As long as historical returns continue to be positive in the fourth quarter, momentum could eventually support a breakout in BTC above $65,000.
