Cryptocurrency Market Update: Recent Developments and Price Movements
Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, Cryptocurrency Price Today 20 surged past the $37,000 threshold, buoyed by the favorable outcome of the Argentine presidential election, where Bitcoin-friendly Javier Milei emerged victorious. Meanwhile, Ethereum (ETH) experienced a surge above $2,000, propelled by Fidelity’s interest in an Ethereum exchange-traded fund (ETF). However, other popular altcoins, including Solana (SOL), Ripple (XRP), Litecoin (LTC), and Dogecoin (DOGE), saw declines across the board.
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Cryptocurrency price on November 20 quick take: The global market cap rose $1.43 trillion.
As of the latest update, the global cryptocurrency market cap reached $1.41 trillion, indicating a 1.75 percent gain over the past 24 hours.
Bitcoin (BTC) Price Update
Bitcoin’s price currently stands at $37,175.82, reflecting a 1.80 percent increase in the last 24 hours, according to CoinMarketCap. WazirX, an Indian exchange, reports the BTC price at Rs 32.59 lakh.
Ethereum (ETH) Price Update : Cryptocurrency Price Today 20
Ethereum’s price has reached $2,002.90, marking a 2.46 percent gain in the past 24 hours. WazirX notes the Ethereum price in India at Rs 1.75 lakh.
Altcoin Price Updates
- DOGE registered a 2.23 percent increase, priced at $0.08023, with the Indian rate at Rs 7.07.
- LTC experienced a 0.92 percent rise, trading at $70.38, and Rs 6,152.23 in India.
- XRP’s price reached $0.6239, showing a 2.69 percent gain, while WazirX reports the Indian rate at Rs 54.85.
- SOL’s price stands at $59.85, with a 3.40 percent increase, and the Indian rate at Rs 5,340.
Top Crypto Gainers and Losers (November 20)
Top Gainers:
- Synthetix (SNX): $3.50 (+21.19%)
- Near Protocol (NEAR): $2.01 (+15.88%)
- Arweave (AR): $9.04 (+13.90%)
- Immutable (IMX): $1.31 (+13.60%)
- Gala (GALA): $0.02531 (+10.58%)
Top Losers:
- Celestia (TIA): $6.57 (-6.71%)
- Render (RNDR): $3.27 (-4.52%)
- XDC Network (XDC): $0.05247 (-1.80%)
- UNUS SED LEO (LEO): $4.05 (-0.57%)
- ORDI (ORDI): $22.71 (-0.55%)
Crypto Exchanges’ Perspectives on the Current Market Scenario
Mudrex Co-founder and CEO Edul: Bitcoin’s positive momentum post-Argentinian election victory needs to overcome the $37,800 resistance. Altcoin NEAR’s rise is attributed to a partnership with Zep for metaverse game development. Ethereum hovers around the $2,000 mark.
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures: BTC surged after the pro-Bitcoin candidate’s win in Argentina, with support predicted between $33,000 to $34,500. Fidelity’s ETH ETF move signals positive trends.
Rajagopal Menon, Vice President, WazirX: Dogecoin’s surge followed a SpaceX partnership, while Bitcoin faces fluctuations. Tether’s $500 million investment in Bitcoin mining signals stablecoin sector expansion.
Sathvik Vishwanath, CEO, Unocoin: Bitcoin cautiously trades above $37,100, with support levels at $35,835, $35,235, and $34,522. ETH breaches $2,000 amid bullish trends.
Shivam Thakral, CEO, BuyUcoin: The overall crypto market cap surpasses $1.4 trillion, led by BTC and ETH. ETH breaches $2,000 due to Blackrock’s Ethereum ETF application. BTC crosses $37,000, with expectations of riding the ETF wave.
CoinDCX: BTC and ETH show strength over the weekend, possibly influenced by positive news from Argentina. BTC targets $38,000, while ETH eyes a major resistance level at $2,130.
Disclaimer:
Cryptocurrency and NFTs pose risks, are unregulated, and lack regulatory recourse. Readers should seek expert advice, carefully read documentation, and understand market risks before making any investments. Cryptocurrency predictions are speculative, and investments are at the readers’ sole risk.
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