Key Takeaways Bitcoin is trading above $40,000 today. The flagship cryptocurrency has been trading in the $30,000 range for almost two weeks now. Other cryptos, stocks and commodities are also having a strong day. Share this article Bitcoin has broken $40,000, up about 10% on the day. Other cryptocurrencies and asset classes are also showing their strength today. Bitcoin in the GreenBitcoin jumped above $40,000 and is still above it at the time of writing. Bitcoin is trading at $40,535 at the time of writing, according to CoinGecko. BTC has not reached its current levels for two weeks. With more than 41% of the total cryptocurrency market cap of $1.8 trillion, Bitcoin’s gains are more than 10% today, although it is down more than 42% since its all-time high of nearly $69,000 on November 10 last. year. Other prominent Layer 1 coins such as Ethereum and Solana are also on the rise today. The total cryptocurrency market cap has increased by about $100 billion in the past 24 hours. This comes after an erasure of $1.4 trillion in market value since November last year. Other asset classes are also showing their strength today. The United States stock market, which also collapsed alongside the crypto market this year, recovered slightly today, followed by the tech-heavy Nasdaq at about 0.75% (though it’s still down about 10% so far this year) . This is probably thanks to Amazon, which made more than 12% profit today. Nevertheless, Meta lost a historic market cap of over $250 billion yesterday. Commodities such as oil and gold are also seeing price increases today, with the former reaching its highest prices since 2014. Cryptocurrency-related stocks have also risen today, after suffering heavily during the broader price declines of recent weeks. For example, Coinbase stocks are up about 6%, Block over 4% and MicroStrategy over 11%. Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and several other cryptocurrencies. Share this article The information on or accessible through this website was obtained from independent sources believed to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness or accuracy of any information contained on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not provide personal investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may be out of date, or may be incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete or inaccurate information. You should never make an investment decision about an ICO, IEO or other investment based on the information on this website, and you should never interpret or otherwise rely on the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO or other investment. We do not accept compensation in any form for analyzing or reporting ICOs, IEOs, cryptocurrency, currencies, tokenized sales, securities or commodities. See full terms and conditions. Coinbase, MicroStrategy Stock Tank Next to Crypto Market Two of the most prominent cryptocurrency-related stocks are suffering significant losses today: Coinbase and MicroStrategy are down nearly 9% since the opening of the current market, while others are also recording losses. Crypto… What is the Crypto Volatility Index? The Crypto Volatility Index (CVI) is a decentralized solution used as a benchmark to track the volatility of cryptocurrency option prices and the overall crypto market. Layer 1s Ethereum, Solana bounces back after shaky start to 2022 Several Layer 1 chains are gathering as the crypto market appears to be coming back to life. Layer 1s Climb Higher Layer 1 chains are leading the crypto market. After being immersed in… Our Crypto Forecasts for 2022 Regulatory intervention, the merger of Ethereum into Proof-of-Stake, the growth of DAOs and – yes – the Metaverse look will have a major impact on crypto next year. Reflections on 2021 in Crypto and the…
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