In a volatile market filled with memecoins centered around deceased diplomats and critics of Bitcoin, the leading cryptocurrency, Bitcoin, maintains resilience, surging above $38,000, as reported by CoinGecko.
Bitcoin's value reached $38,077 within a day, following a brief touch at $38,143 overnight on Wednesday. This marks Bitcoin's third breach of the $38,000 mark since the previous Friday, reaching levels not witnessed since May 2022. During that period, Bitcoin experienced a gradual decline from its all-time high of over $60,000 in October 2021 to as low as $16,500 by November 2022.
The recent peak indicates a notable 10% surge in Bitcoin's value over the last 30 days, reflecting a remarkable 121% increase in the past year.
Bitcoin's consistent performance has sparked optimistic discussions, fueled by ongoing reports of numerous pending Bitcoin spot ETF applications, including a new addition on Wednesday. Additionally, relatively positive feedback from The Fed adds to the optimistic outlook.
Ethereum, a perennial second-place digital asset, is also making gains in early December, currently priced at $2,090, approaching the $2,119 observed on Black Friday. Although a significant increase, Ethereum is distant from its peak of $4,732 on November 11, 2021.
Other cryptocurrencies, such as Solana and Dogecoin, have witnessed substantial gains over the past weeks, with current values surpassing $60 and $0.084, respectively. These represent increases of 59% and 23% over the last 30 days.
Despite the positive trends, it's essential to remain cautious, as cryptocurrency markets are known for their volatility. Investors should carefully assess the ongoing market dynamics and potential risks associated with the current bullish sentiment.
May 22 is "Bitcoin Pizza Day," commemorating the historic event in 2010 when 10,000 bitcoins were used to purchase two Papa John's pizzas. From $41 worth of pizza to $700 million in wealth, Bitcoin's price surge over the past 15 years has proven it to be the best-performing financial asset in history.
MiyukiKeep this in mind when turmoil intensifies and the narrative of Bitcoin as a currency begins to form.
JinseFinanceThe Web3 Foundation, an organization that continues to explore and promote the development of blockchain technology and decentralized applications, officially announced the launch of its decentralized future plan. At the same time, this move also officially sounded the clarion call for Polkadot to move towards a new future.
JinseFinanceBitcoin is an ultra-secure asset. As an ultra-safe asset, Bitcoin’s supply curve is closer to the inelastic level (S0) than every other known commodity and monetary good!
JinseFinanceBitcoin's price has been soaring since its launch in 2008. Early investors are now reaping returns in the millions of dollars. Nevertheless, its volatility and regulatory uncertainty remain significant risks for investors.
BerniceMATIC, the native cryptocurrency of Polygon, has recently gained traction, showing a 50% increase in price surge in the last 20 days, amid the optimistic trend circling the cryptocurrency market due to the recently finished Uptober rally.
BitcoinworldBitcoinworldOne filing also alleged that Bahamian regulators asked Sam Bankman-Fried to gain unauthorized access to funds.
BeincryptoThe Crema Finance team awarded the hacker who made off with nearly $10 million in funds from the protocol 16.7% of the stolen funds as a white hat bounty.
CointelegraphThe U.S. dollar currency index breaks through resistance to hit its highest level since 2002 — to the detriment of practically everything.
Cointelegraph