Major cryptocurrencies are on the rise despite the fact that US regulators are not ruling out their ban. Should you invest?
While the United States is conducting new offensives against cryptocurrencies and conveys great uncertainty, the digital asset market is struggling to gain momentum and recorded a growth of 1.6 percent in the last 24 hours.
Bitcoin (BTC), Ethereum (ETH) and other crypto giants are painted green after a extended bear streakwhich set off alarm bells in the sector and prompted several investors to switch to fixed income.
The crypto ecosystem is showing great resistance against the recent harassment by the US Federal Reserve (fed), the Securities and Exchange Commission (SEC), and even the International Monetary Fund (IMF). In recent weeks, these players have set their sights on major trades and, in some meetings, They did not rule out the possibility of banning cryptocurrencies.
Bitcoin Price: How Much Is It Trading Today Wednesday March 1st
It's a good day for Bitcoin. The most traded currency in the market starts the third month of the year with a price of $23,737.15. While that's not the $24,000 the token reached in early February, it has at least broken through the $23,500 mark.
This price assumes 1.4% increase from the previous day. Also, according to coinmarketcap, both trading volume and bitcoin capitalization increased in the last 24 hours. This means that despite the restrictions and uncertainty in the market, investors continue to bet on this coin and continue to use it as a trading pair.
In any case, it is worth mentioning that the property accumulates a decline of 2.6% in the week. For the year, the price of Bitcoin has cooled by almost 50%.
Ethereum Price: How Much Is It Trading Today Wednesday March 1st
ethereum tracked the progress of bitcoin and also marked the rise in its price. More specifically, the second most important coin on the market is currently selling for $1659.87which represents a 1.5% increase in 24 hours.
In any case, ETH is showing signs of further recovery compared to star coin. For example, your trade volume is shot 12% as of yesterday and, given its history, Ethereum accumulates a variation of 0% in week i an increase of 6.4% in the last 14 days.
Among the main altcoins (alternative tokens to Bitcoin) BNB, the platform's cryptocurrency Binancequotes on $303.01Cardano (ADA), is located at 0.363105 dollars and Solana (SOL) to $22.64.
Cryptocurrencies: what the market is like today
In addition to the price of cryptocurrencies, there are other indicators that allow you to test the market. Such is the case "Fear and Greed Index", which measures general investor sentiment. According to their latest data, there is dominance neutral state in the crypto ecosystem, which means that investors are not desperate to trade, nor are they paralyzed.
Source: Cronista
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
