Cryptocurrency prices today: Bitcoin rises sharply by over 11%, leads market recovery

Bitcoin and Ethereum price

Cryptocurrency prices rebounded sharply on Friday after slightly improving a day ago. The improvement is due to a dipping selloff and volatility.

Bitcoin, the world’s largest cryptocurrency, rose sharply to $47,371.24 and was trading over 10 per cent higher than its price 24 hours ago at 4:15 pm. Bitcoin’s market capitalisation rose to $892 billion and the 24-hour trading volume crossed $1.03 billion.

Ether also rose sharply by over 9 per cent and was trading at $3,239.24. Its market capital rose to $380 billion and the 24-hour trading volume stood at $816.69 million.

Cryptocurrency highlights | Check yesterday’s prices

Most other altcoins also surged sharply including XRP, Cardano, Polkadot, Stellar, Dogecoin, Chainlink, Uniswap, Polygon, and Litecoin.

Earlier in the day, Edul Patel, CEO and Co-founder of Mudrex, a global algorithm based crypto investment platform, said, “Bitcoin’s affinity with the current support level keeps it at around the $43,800 level for yet another day. Ether hovered around the $3,000 mark for the past 24 hours. Initially, we saw the market making a move towards the higher side.”

“However, there was some profit booking later, and the crypto market fell back to where they were the day before,” he added.

Hitesh Malviya, a cryptocurrency and investment expert, said, “Bitcoin has established support at $41,000 on a daily time frame, and currently, the price is moving inside a falling wedge, falling wedge is a bullish pattern, a successful breakout from this pattern can lead to a price above $50,000.”

“We need to wait for a clear breakout from the falling wedge before entering into long positions,” he added.

Here are the latest prices and trends of popular cryptocurrencies:

Cryptocurrency

Price (US Dollar)

24-hour change

Market cap (Billion)

Volume (24 Hours)

Bitcoin

47,091.55

9.86%

$886.77

$1.03 billion

Ether

3,208.98

8.59%

$376.53

$816.69 million

Dogecoin

0.213499

6.67%

$27.99

$730.41 million

Litecoin

162.95

8.57%

$11.19

$77.89 million

XRP

1.01

7.73%

$100.43

$3.69 billion

Cardano

2.22

6.67%

$71.83

$179.86 million

DISCLAIMER: The cryptocurrency prices have been updated as of 4:30 pm and will change as the day progresses. The list is intended to give a rough idea about popular cryptocurrency trends and will be updated daily.

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