‘s price crossed the $41,000-mark and other major cryptocurrencies gained on Thursday even though there are apprehensions over rises and a worsening scenario in Ukraine.
Even though the environment for cryptocurrency investors in India and China is becoming less favourable, the industry has hope in both countries, according to CoinDesk.
Both Bitcoin and Ethereum have made strong gains in the past 24 hours as the global cryptocurrency market was by and large trading in green.
The world’s largest cryptocurrency by market capitalization, Bitcoin, was up by nearly 3 per cent. It was trading at $41,274.
Ethereum’s price gained 1.74 per cent to $3,109.
“Bitcoin, Ethereum and most cryptocurrencies have gained decent amounts in the past 24 hours. BTC and ETH are currently trading above US$41,000 and US$3,000 levels. BTC is moving ahead to reverse the current downward trend, as selling pressure is fading away slowly,” Edul Patel, CEO and Co-founder of Mudrex, said.
“BTC buyers could make a decisive move above the initial resistance at US$43,000 to maintain the upward momentum. Overall, trading was a bit light over the past day as traders seem to have digested the economic declines across the globe,” Patel said.
Other cryptocurrencies such as XRP was up by 2.39 per cent, Terra gained 3.33 per cent, Solana was up by 2.88 per cent, Avalanche gained over 5 per cent, Cardano was up 2.04 per cent, Polkadot gained 2.55 per cent, and Stellar was up by 2.53 per cent.
Another popular alt coin, Dogecoin, was up 0.05 per cent but Shiba Inu was down by 0.81 per cent.
The rest of the cryptocurrencies were in the green.