Bitcoin Resumes Uptrend, Next Target is $69,764
Bitcoin values soared today, crossing the $65,000 barrier for the first time. The market value of the world’s biggest cryptocurrency, Bitcoin, increased by more than 5% to $65,353. After reaching a record high of about $67,000 in October, the most popular digital token has gained 121 percent this year (year-to-date).
Dogecoin, the cryptocurrency tied to the ethereum blockchain and the second most valuable cryptocurrency, surged over 3 percent to $4,700, while ether gained nearly 3 percent to $4,700. The price of Cardano increased by more than 3 percent, to $2.05.
Other digital tokens, including as XRP, Uniswap, Litecoin, Polkadot, and Binance Coin, have all seen increases in value during the previous 24 hours, according to CoinMarketCap. While Shiba Inu dropped more than 9 percent to $0.000053 and Solana dropped 4 percent to $243, the other stocks suffered.
Recently, investors have sought diversification in an uncertain interest rate environment as evidenced by a steady stream of news about cryptocurrency adoption by financial institutions, the growth of nonfungible tokens on virtual gaming platforms, and the launch of bitcoin futures-based ETFs in the United States. Several blockchain tokens, including bitcoin and ether, have seen significant gains since October.
In recent weeks, ether, the second-largest cryptocurrency by market capitalization, has been trading around an all-time high, catching up with bitcoin’s gain and benefiting from reports of more blockchain usage.
Technically, If Bitcoin stays above $64,120 for the next 24 hours, for the rest of the week the numero uno crypto will remain bullish. The next target will be 66,236 and 69,764.