Thursday, July 25, 2024

As momentum improves, Bitcoin rises above $58K.

November was not a good month for Bitcoin. Its rival coin, ETH, was gaining a lot of momentum. In fact, it saw an increase in its AUM up to 16 percent. ETH was being considered as the next big thing due to this sudden rise in its value. Some even anticipate that it will take over BTC as crypto’s leading coin in the market. However, it still has not surpassed Bitcoin even after BTC fell by almost 10 percent in its assets under management. This says a lot about how big Bitcoin actually is in the crypto market.

Things are looking bright

After a disturbing month for BTC holders, things are beginning to look bright. Bitcoin value has risen above 58 thousand dollars, and it is anticipated that it will go over 60 thousand dollars sometime soon. What’s more, is that the momentum of this coin is improving. So, the chances are that things will be back to normal by the time the festival season gets over. According to some charts and predictions, BTC might even touch the sky-high value of 69 thousand dollars. This is extremely good news for those who are holding on to this coin for dear life. All over Reddit and other social media websites, experts, as well as crypto enthusiasts, are encouraging Bitcoin owners to hold on.

Conclusion

What happens after the holiday season remains to be seen. However, as of today, many Bullish investors are holding to BTC. Quite a few have shifted to ETH, though.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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