Cryptocurrency Price Today: Bitcoin Value Currently Above $73,000, Ether Volatile After Dencun Update

Bitcoin on Thursday, March 14, it posted a gain of 1.75%. The price of Bitcoin, at the time of writing this article, stood at $73,118 (approximately Rs. 60.5 lakh). Despite the overwhelming market situation, Bitcoin managed to hold the price of $73,000 (around Rs. 60.4 lakh) for more than 48 hours. Analysts indicate that a potential cooling period could loom over BTC in the coming days after the asset only saw a spike in the last few days.

“Bitcoin continues to rise after a record-breaking week ETFs net inflows of $1.1 billion (approximately Rs. 9,117 crore). MicroStrategy, which recently purchased Bitcoin worth $821.7 million (around Rs 6,805 crore), is now raising another $500 million (around Rs 4,144 crore) to buy more Bitcoin. This price action reflects strong institutional buying. For Bitcoin, $74,000 (around Rs. 61.3 lakh) is the next price level to watch before it reaches $100,000 (around Rs. 82.8 lakh),” Shivam Thakral, CEO, told Gadgets360 by BuyUcoin.

Together with Bitcoin, Bind, Binance coin, Solana, Currency in USD, CardanoAND Avalanche recorded earnings.

Small profits were also recorded Currency in USD, Cardano, Shiba Inu, Polka dotAND Polygon.

The overall cryptocurrency market managed to grow by only 0.78% in the last 24 hours. The current valuation of the cryptocurrency market stands at $2.75 trillion (approximately Rs. 2,27,90,762 crore) according to CoinMarketCap. Ether, however, witnessed a setback in its rally after the Ethereum blockchain underwent and completed the Dencun upgrade on March 13. On the sidelines of this network update, Ether has seen price fluctuations. The asset on Thursday reflected a slight loss of 0.7 per cent which took its trading value to $3,950 (around Rs. 3.27 lakh). Unlike BTC, ETH was unable to surpass its previous all-time high of $4,891 (around Rs. 4.05 lakh) reached in November 2021.

With the now deployed Dencún update, the transaction fees, scalability and security measures of the Layer-2 blockchains supported by Ethereum will improve. The value of ETH may subsequently increase as Dencun improvements begin to show changes.

Other cryptocurrencies that reflected Thursday’s losses alongside ETH include Ripple, Dogemoneta, Chain shirt, Tron, Bitcoin Cash, UniswapAND Litecoin.

“New investors must carefully weigh the risks and rewards of entering the Bitcoin market at its current valuation of over $1.4 trillion (approximately Rs. 1,16,02,990 crore). FOMO (fear of missing out) on the price surge is undeniable, but market volatility and broader economic factors should be taken into consideration before making any investment decisions,” Dhruvil Shah, senior vice president at Liminal technology.

Cryptocurrency is an unregulated digital currency, it is not legal tender and is subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV will not be liable for any losses resulting from investments based on recommendations, forecasts or any other information contained in the article.

Affiliate links may be automatically generated – see our Ethics statement for details.

Fuente