Today, Saturday, the prices of cryptocurrencies witnessed a rise, as Bitcoin returned to the fore following increasing demand for it in the face of inflation.
Bitcoin blockchain data indicates that a number of long-term holders of the popular currency are making intense and ambiguous purchases.
The market value of cryptocurrencies increased during Saturday’s trading by 3.37% to reach $1.88 trillion, with a volume of trades during the last 24 hours amounting to $91.49 billion.
Bitcoin price today
The price of Bitcoin (BTC), the world’s largest cryptocurrency, jumped 2.60% to $4,1658.43, and its market capitalization rose to $790.885 billion.
Bitcoin (BTC) is expected to see a “bigger movement” as soon as this week.
In the latest market update, the trading group Decentrader told readers that the time will soon come to “release” liquidity as Bitcoin price action goes up or down.
During an appearance on Bloomberg TV on Tuesday, Galaxy Digital CEO Mike Novogratz predicted that Bitcoin (the world’s largest cryptocurrency) would reach $500,000 within five years.
The highest level that Bitcoin reached on November 10 was at $68,992.
Cryptocurrency rates today
The price of Ethereum (ETH) rose by 4.94%, to record $2,942.75.
And the price of Ripple XRP increased by 3.37% to levels of $0.812.
The price of the Terra Luna currency LUNA/USD increased by 6.28%, to record levels of $88.89.
The Cardano coin fell 4.02% to $0.8611.
And the Solana price gained 1.18% to the level of $85.74.
The price of Polkadot rose by 3.44% to levels of $19.11.
Dogecoin DOGE/USD increased by 5.43% to $0.121 levels.