Cryptocurrency market watchers are again speculating that the price of bitcoin may soon revisit its all-time highs.
New Delhi.The price of Bitcoin, the world's largest cryptocurrency, has reached above $57,000 for the first time since May. Around 9:45 pm Indian time, the price of one bitcoin was trading at the US $ 57,498.10 (about Rs 43,36,943).
Meanwhile, cryptocurrency market watchers are again speculating that the price of bitcoin may soon touch its record highs again. Let us tell you that the price of bitcoin touched an all-time high of $ 65,000 earlier this year. Since then it started declining continuously.
In the recent past, bitcoin has started gaining momentum again. There are many reasons behind this recent boom. These include the approval of a bitcoin exchange-traded fund by the US Security and Exchange Commission, along with easing some concerns about regulatory regulations in the US and China.
Know the price of these cryptocurrencies rose more than 1% to reach $3,523.Cardano ADA was seen at $2.15, which has fallen 3 percent in the last 24 hours. dogecoin fell 2% to $0.22.
Also XRP, Uniswap also fell.Stellar, Shiba Inu on the other hand is trading with profit in the last 24 hours.
Analysts say that the next resistance is seen near $60,000 on the price chart. However, the relative strength index of bitcoin is currently at 70, which suggests that it is currently in the overbought zone and there may be a slight downside in the short term.