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Bitcoin shows a gradual rise above $66,000, Ether is undergoing a price correction

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Bitcoin shows a gradual rise above $66,000, Ether is undergoing a price correction

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Crypto price charts, as of Friday, March 8, reflect the gains of a group of cryptocurrencies. Bitcoin recorded a gain of 2.03 percent on Friday, taking its value to $66,394 (roughly Rs. 54.9 lakh). This is a incremental increase in BTC price from yesterday’s price of $1,392 (Rs. 1.15 lakh approx). According to market analysts, bulls are currently directing bitcoin’s market momentum while also driving the asset’s price higher.

“Capital inflows from traditional financial sectors into spot Bitcoin ETFs continue to be a key driver of price growth, along with Bitcoin’s near halving,” Mudrex CEO Adol Patel told Gadgets360.

Ether Friday managed a modest gain of 0.96 percent. The price of Ether, at the time of writing, was $3,543 (roughly Rs. 2.93 lakh). During the last day, the value of ETH increased by $38 (approximately Rs. 3,142). The asset briefly touched $3,900 (roughly Rs. 3.22 lakh) before returning to the current price point.

“Ether is positioned for substantial growth in 2024. Analysts project Ether (ETH) to potentially double or more from current prices, which range between $8,000 (roughly Rs. 6.61 lakh) and $10,000 (roughly Rs. 8.2 lakh rupees). Dankin UpgradeScheduled for this month, Layer-2 ensures more cost-effective transactions on networks, triggering increased activity. Additionally, there is excitement around Ether ETF applications, with a regulatory decision expected in May,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Binance coin, the wave, Dogecoin, Avalanche, Chain LinkAnd Polygons — all joined BTC and ETH on the profitable side of the crypto price chart.

to change, Bitcoin Cash, Litecoin, Leo, MoneroAnd Bitcoin SV Small profits also registered.

As per CoinMarketCapIn the last 24 hours, the overall crypto market price increased by 2.08%. The crypto market cap is currently $2.55 trillion – its highest level in the last two years.

“AI-related tokens are reacting positively ahead of Nvidia’s conference later this month which is speculated to feature a crypto product. SOL (+3.1 percent) also touched $140 (roughly Rs. 11,580 ) has witnessed a significant breakthrough after breaking the resistance,” Parth Chaturvedi, Investment Lead, CoinSwitch Ventures told Gadgets360.

Meanwhile, cryptocurrencies were among the losers on Friday. Tether, USD coins, Cardano, Sheba Anu, PolkadotAnd Tron.

Stellar, Cronus, CosmosAnd Close to the protocol Damages were also recorded.

Cryptocurrency is an unregulated digital currency, not legal tender and subject to market risks. The information provided in the article is not intended to constitute financial advice, business advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising from any investment based on any purported recommendation, forecast or any other information contained in the article.

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