Bitcoin, dogecoin, Shiba Inu, other cryptos surge today. Check cryptocurrency prices

 

Cryptocurrency prices today: Bitcoin, ether, dogecoin, cardano surge. Check latest rates

Today, cryptocurrency values soared, with Bitcoin trading beyond the $57,000 level. The largest and most popular cryptocurrency in the world was trading at $57,699, up more than 6%. Bitcoin has recently reached a new high of over $69,000 and is up more than 99 percent year to date (YTD). According to CoinGecko, the global crypto market cap has risen to $2.72 trillion.

"Bitcoin had a significant correction, with values approaching a two-month low amid rumours of a new coronavirus type, which caused financial markets to fall." BTC, on the other hand, looks to be strong, and the daily time period suggests the construction of a Cup & Handle pattern. We anticipate resistance at $68,000 and quick support at $53,000. "We feel a trend reversal is on the horizon," said WazirX COO Siddharth Menon.

Ether, the second largest cryptocurrency and the coin tied to the ethereum blockchain, increased by more than 7% to $4,337. According to CoinDesk, the price of Dogecoin increased by more than 3% to $0.20, while the price of Shiba Inu increased by more than 4% to $0.000039. Other cryptocurrencies, including as Litecoin, XRP, Polkadot, Uniswap, Stellar, Cardano, and Solana, have all gained ground in the recent 24 hours.

"Ethereum has maintained its dominance over Bitcoin." The daily trend broke out of the triangular pattern and was hovering around $0.075 at the time. The usage of DeFi is growing, and we anticipate a quick turnaround for ETH. "Immediate support is projected to be around 0.071, with the following resistance at 0.079," Menon added.

According to CryptoCompare, investors shifted their holdings to Bitcoin alternatives as assets under management (AUM) of bitcoin-based crypto funds declined 9.5 percent to $48.7 billion in November, the greatest month-on-month drop since July. This resulted in a minor monthly drop in AUM for total crypto funds or digital asset management products, from $74.7 billion (-5.5 percent) to $70.0 billion.

In other developments, the Singapore-based virtual currency exchange Coinstore has launched operations in India, at a time when the Indian government is contemplating legislation that would essentially prohibit most private cryptocurrencies.