Cryptocurrency Prices on 15th January 2022 : Bitcoin Trading above $43000
After a rough start to the new year, the price of Bitcoin is now trading above $43,000. This makes it the world's most valuable cryptocurrency
After a rough start to the new year, the price of Bitcoin is now trading above $43,000. This makes it the world's most valuable cryptocurrency. Earlier this month, the price of bitcoin climbed to over $50,000. However, in recent days, it has dipped to around $41,500 before rebounding to almost $46,000 by 4 pm ET. As a result, the cryptocurrency market is currently at a record high.
However, this rally has come at a risk as many people are now hesitant to invest in cryptocurrency, as it has historically been a risky investment. In January, the price of bitcoin topped $43,000, and this month, it has surged to nearly $60,000. This is a major gain considering the fact that there is still a lot of volatility in the cryptocurrency market.
Despite this, the price of Bitcoin has dropped 14% in the last week. It is no longer worth purchasing at the $44,000 level because there is no value. A $14% decline wipes out most bullish bets. On the other hand, there are $44 million worth of call options at expiration. While the market is likely to remain bearish for the foreseeable future, this price drop wiped out most of the investor's bets.
The recent plunge in the cryptocurrency market has sparked fears of a crypto meltdown. Even the most ardent crypto enthusiast may be worried about the volatility. While the volatility in cryptocurrencies has been well documented in the past, this latest trend is likely to last until the beginning of 2022. The rise of Bitcoin and cryptocurrencies is not the end of crypto, and there is still much room for growth.
Today's cryptocurrency market has seen a sudden surge in bitcoin, which has hit a record high of $43,106 last Wednesday. Meanwhile, Ether ETHUSD, -0.86%, has dropped to just below $3,300 in the past 24 hours. While Bitcoin BTCUSD is trading below $43, its price has recovered significantly during the past day. The Ethereum 2.0 Deposit Contract is now at $30 billion in value, but the entire crypto market is still down by about 15% in the last 24 hours.
In October, Bitcoin crashed from $60,000 to $42,000 and dipped below the $40,000 mark. However, it has since bounced back above the $44,000 level, and now it is poised to make a strong comeback. While the cryptocurrency market is still in a bearish phase, it is still worth monitoring. The upcoming COVID-19 event is a big catalyst for the cryptocurrency market. The price of Bitcoin will increase after the COVID-19 event.
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