Bitcoin, Ether Touch Highs in 2023, Crypto Cap Crosses Trillion Dollar Mark Over Weekend

Most cryptocurrencies maintained last week’s increased prices as January 2023 approaches its end. Bitcoin opened trading on Monday, January 23 at its highest price to date in 2023 – $22,716 (approximately Rs. 18 lakh). The oldest cryptocurrency recorded a minuscule 0.06 percent dip on the chart as it entered the trading lane. With today’s values, Bitcoin has finally managed to break out of the period of low prices that has been going on for the past five months. Industry experts see this as the return of bullish sentiment to the market.

Ether, along with Bitcoin, reached its highest price point in the past four months. The cryptocurrency, which posted a 0.67 percent gain today, is currently priced at $1,631 (approximately Rs. 1.32 lakh), Gadgets 360’s crypto price tracker showed.

“If BTC can maintain its momentum, it could reach $23,000 (approximately Rs. 18.6 lakh) soon. The rise in Ether’s price is likely to keep the bulls active in the market, potentially driving prices higher,” Edul Patel, Mudrex’s CEO and co-founder, told Gadgets 360.

Avalanche and Dogecoin prices rose five percent each, with the currencies joining other altcoins on the green side of the price charts.

Shiba Inu, Cardano, Polygon and Polkadot – also grew with small price increases.

Among other profitable altcoins, Tron, Uniswap, Cosmos, Chainlink and Monero marked their presence.

After November 2022, this will be the first time in 2023 that the valuation of the global crypto market has reached and broken the trillion dollar mark. From CoinMarketCapThe market capitalization for the crypto sector currently stands at $1.04 trillion (approximately Rs. 84,48,108 crore).

Meanwhile, a small number of altcoins opened with losses today. These include stablecoins such as Tether, USD Coin, and Binance USD.

Solana, Litecoin, Wrapped Bitcoin, LEO, Braintrust and Augur also witnessed drops in value.

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