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In the early hours of Monday, the world’s largest cryptocurrency, Bitcoin, was trading at $46,831.53. Cryptocurrency prices rose as Bitcoin surpassed $45,000, the highest level since March 11.

In the early hours of Monday, the world’s largest cryptocurrency was trading at $46,831.53. The coin is now up for the year because of the recent increases.

Today’s worldwide cryptocurrency market capitalization is $2.19 trillion, with a total cryptocurrency trading volume of $98.2 billion in the previous day.

In the previous 24 hours, Ethereum was trading at $3,298.46, while Dogecoin was trading at $0.148578, up.

Shiba Inu and Solana both increased in value in the previous 24 hours, trading at $106.44.

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Bitcoin has risen in value, as US markets have advanced

This comes when Bitcoin’s gains since mid-March–even while Russia’s war in Ukraine carried on–have also boosted it versus gold, its traditional safe-haven opponent, which traded sideways throughout the period, according to a Bloomberg article.

If Bitcoin can continue to break through “in a major way,” it should gain a lot of positive momentum, according to Matt Maley, chief market analyst at Miller Tabak & Co. Bitcoin has been locked in a bind as the Federal Reserve and other central banks unwind some stimulus measures enacted in response to the financial downturn.

This implies that there is less money available to invest in riskier assets, such as cryptocurrency. Digital currencies have come under examination, with rumours spreading that they may circumvent Russian sanctions, though many analysts, according to Bloomberg, refute that notion. Bitcoin has risen this month in tandem with larger gains in US markets.

 Although crypto assets under management increased in March, it was the sixth month in a row that they failed to break the negative trend, according to research by CryptoCompare.

Bitcoin was trading much above its 50-day moving average, which is now hovering at $41,085. According to Bespoke Investment Group, this puts it in the 80th to 90th percentile and in the “overbought” category. Yet, while this shows the possibility of a price decline for many assets, it has been the reverse for Bitcoin.

 

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