Bitcoin price rises over $40,000, other cryptocurrencies gain

Bitcoin’s price gained 4.99 per cent to $40,495. Ethereum price was up by 6.46 per cent to $2,993.90.

Bitcoin price gained.

Bitcoin’s price on Monday rose over $40,000 and other Cryptocurrencies were also trading in green. However, the gains were limited, according to data on Coin Desk. Investors remained cautious over the latest covid-19 situation in China, ongoing conflict between Russia and Ukraine, and global inflation.

Often, we have seen investors reduce their exposure to stocks and cryptos when faced with great uncertainty.

BITCOIN PRICE TODAY

Bitcoin’s price gained 4.99 per cent to $40,495. Ethereum price was up by 6.46 per cent to $2,993.90.

“Bitcoin, Ethereum, and most cryptocurrencies recovered on Monday, stabilizing themselves. BTC’s buyers have returned to the current support at US$37,000, while the resistance at US$43,000 might push for an upward trend,” Edul Patel, CEO and Co-founder of Mudrex, said.

Other cryptocurrencies such as Terra was up by 8.39 per cent, XRP rose by 4.76 per cent, Solana was up by 5.56 per cent, Caradano gained 6.14 per cent, Avalanche was up by 5.69 per cent.

Other alt coins such as Dodgecoin was up by 27.17 per cent and Shiba Inu gained 8.04 per cent.

“On the other side, Dogecoin has rallied nearly 20% after Elon Musk offer to acquire Twitter for $43 billion in cash. We could see range-bound trading in the coming few days,” Patel said.

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