Bitcoin nears $42,000 as cryptos snap 6-day losing streak

Author: monitioring Desk

The cryptocurrency market snapped the six-day losing streak on Tuesday, with market capitalisation gaining 0.4 percent to reach $2.06 trillion.

As of 1220 hours GMT, the largest cryptocurrency Bitcoin’s price went up by 1.20 percent to $41,909. With this increase in price, the market capitalisation of the biggest crypto has reached $793.1 billion.

The world’s biggest digital asset fell for eight straight days, marking its longest losing streak since 2018, before this recovery. Bitcoin dipped below $40,000 for the first time since late September a day earlier.

Ether, the world’s second-largest cryptocurrency by market capitalisation, gained 1.29 percent to reach $3,132. With this increase in price, the market capitalisation of ETH has reached $368.6 billion. Ether tested $3,000 but buyers managed to defend this level.

On the other hand, XRP price went slightly up by 0.24 percent to reach $0.741. The market capitalisation of XRP stands at $74.1 billion with this increase. Similarly, Cardano (ADA) price edged up by 0.52 percent to hit $1.15. Its market capitalisation has reached $37.9 billion with this increase.

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