Cryptocurrency price today: The world's most popular cryptocurrency on Monday, March 28, set a record high for this year when the digital currency hit a three-month high, surpassing the $47,000 mark on the same day. This came after volatile markets amid the Russia-Ukraine war, Covid-19, and other factors saw the cryptocurrency drop to a months low, as it even dipped below the $35,000 mark earlier in the month. anus. Except for stablecoins, all major cryptocurrencies traded higher on Monday. On the other hand, a high trading volume gave a much-needed boost to investors who previously refrained from investing in risky assets.
At the time of writing this article, the price of one Bitcoin stood at $46,900.90, according to data from global crypto tracking website CoinMarketCap. This increased by 4.88 percent in the last 24 hours. bitcoin prices they have risen as much as 14.78 percent over the past week, data from the same website showed.
โBitcoinโs recent rally has resulted in some crypto investors rallying as Bitcoin hit a three-month high. The massive bitcoin bought by the Luna Foundation Guard as part of its plan to create a $3 billion worth of bitcoin reserve may have a factor driving the price of bitcoin to this level," said Charles Tan, head of marketing at Coinstore. .
โBitcoin, after taking multiple support at the uptrend line, is showing good strength and prices are in the green for the seventh day in a row. The asset was facing stiff resistance at $45,500. However, the bulls managed to break above the key level and prices are trading above the horizontal trend line and the 200-day moving average. If BTC holds and closes above $45,500, then we can expect prices to go further up to $50,000 or $52,500,โ ZebPay Trade Desk said.
โOver the past few weeks, we have seen the amount of Bitcoin held on exchanges steadily decrease. Between March 10 and 27, we have seen more than 50,000 Bitcoins exchanged for private wallets. Only 13.2 percent of all BTC in circulation is held on exchanges now. This shows that people want to keep their crypto, instead of trading it back and forth on exchanges," said Darshan Bathija, CEO and co-founder of Vauld.
Ethereal, the world's second most popular cryptocurrency also rallied on Monday. One unit of the altcoin was trading at $3,315.71 at the time of writing, which was 5.27 percent higher in the last 24 hours. Last week, Ether prices increased by 15.74 percent, according to data from CoinMarketCap.
"We can expect a slight correction in prices soon as investors can consolidate their portfolio as we approach the end of the quarter and even the end of the fiscal year in India and some countries," Tan added.
However, Bathija predicted that Bitcoin prices could go higher in the coming days. โDerivatives data also suggests that most Bitcoin call options are stacked at the $50,000 strike price. This suggests that many people are comfortable buying Bitcoin at the $50,000 mark, so there is more room for prices to rise in the short term."
Here are the top 10 cryptocurrencies and their prices on March 28, 2022 (data from coinmarketcap.com)
Bitcoin $46,900.90 or 4.88 percent gain in the last 24 hours
Ethereum $3,318.25 or 5.35 percent gain in the last 24 hours
Tether $1.00 or 0.02 percent loss in the last 24 hours
BNB $433.62 or 3.96 percent gain in the last 24 hours
USD Coin $1 or 0.001 percent gain in the last 24 hours
XRP $0.8653 or 3.22 percent gain in the last 24 hours
Cardano $1.18 or 3.71 percent gain in the last 24 hours
Solana $108.79 or 6.66 percent profit in the last 24 hours
Terra $95.06 or 4.32 percent gain in the last 24 hours
Avalanche $90.91 or 5.72 percent gain in the last 24 hours
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