Crypto market booms, Bitcoin price exceeds $96,600

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Hi, takoana is here and most welcome to the blog. The cryptocurrency market has had a strong start to the new year. The biggest cryptocurrency by market value, Bitcoin, increased to just over $96,600 on Friday. By the end of the previous year, the price of this most well-known cryptocurrency had dropped dramatically. Bitcoin has already reached a peak of more than $1,08,800.

Ether, the second-biggest cryptocurrency, saw increases as well. Ether was trading at almost $3,440 on the global cryptocurrency market Binance, up more than 0.20 percent. Solana's increase has exceeded two percent. The cost was approximately $211. Avalanche, Cardano, Ripple, Tether, Chainlink, and Stellar were among the other cryptocurrencies that saw gains. In the last day, the market value of cryptocurrencies increased by almost 2.02% to $3.40 trillion.

According to market analysts, $98,400 is the next point of resistance for Bitcoin, while $95,000 is the next point of support. Bitcoin is becoming more and more popular among institutional investors. In late December, MicroStrategy, a company that makes enterprise software, made a significant purchase of Bitcoin for the eighth week in a row. It is the business that owns the most Bitcoin. There are roughly 4,46,000 Bitcoins at MicroStrategy.

This business recently stated that it could purchase bitcoin by issuing additional shares this year. The price of bitcoin rose by over 130 percent last year. But there are also concerns about the plan to purchase bitcoin by selling MicroStrategy stock. Donald Trump had made references to establishing a bitcoin reserve during the US presidential campaign. The Federal Reserve, meanwhile, has stated that it has no intention of participating in the incoming government's scheme to build up a sizable bitcoin portfolio. please share this article on social media thank you.

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