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Cryptocurrency News And Prices

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Cryptocurrency News And Prices: Following An Exciting December, Bitcoin Soars

Cryptocurrency News: At the end of December, cryptocurrency prices started to fluctuate. Bitcoin fell to little below $93,000 on December 23 after beginning the month with a spike above the $100,000 mark on December 5 and then surpassing $107,000 on December 16. Since then, it has fluctuated between about $94,000 and $99,000. Since the November U.S. election, digital assets have generally increased in value as President-elect Donald Trump clarifies his position on a pro-cryptocurrency policy.

Bitcoin has gained 128% so far this year, trading at almost $96,400 on Friday.

Price Action of Cryptocurrencies

Bitcoin continues to trade well beyond the previous record of $73,798 set on March 14 and reached a new high of $108,319 on December 17.

In 2023, the biggest cryptocurrency in the world saw a about 157% recovery.

Ethereum surpassed its previous 52-week high from March on December 16th, reaching a high of $4,721. At $3,393 on Friday, it was the second-lowest-priced cryptocurrency of the month. Although Ethereum has increased 49% this year, value is still far behind its top of $4,800 in November 2021.

Investing in digital assets is very risky. Although the technical indications and fundamentals of cryptocurrencies may vary, investors should concentrate on the same main goals. First, protect yourself by knowing when to sell, trim losses, or take profits. Second, get ready to make money if the cryptocurrency begins to rise again.

Cryptocurrencies haven’t performed as inflation hedges, despite their initial promise. Rather, they have followed the general indices’ trend. To keep tabs on daily market trends, read The Big Picture and Market Pulse.

Visit IBD’s Best Cryptocurrencies And Crypto Stocks To Buy And Watch page to learn more about investing in digital assets.

Do you want to learn more about crypto? Visit the page that explains what cryptocurrency is.

FAQ

Bitcoin’s price saw fluctuations in December, starting the month above $100,000, peaking at $107,000 on December 16, and then falling to just below $93,000 by December 23. This was influenced by a combination of market trends, investor behavior, and political factors, including President-elect Donald Trump’s stance on a pro-cryptocurrency policy.

Bitcoin has seen an impressive 128% increase this year, trading at nearly $96,400 by the end of December.

Ethereum reached a new high of $4,721 on December 16, surpassing its previous 52-week high from March. It has increased by 49% this year but still remains significantly lower than its peak of $4,800 in November 2021.

Investors should focus on protecting themselves by knowing when to sell, trim losses, or take profits. It’s also essential to be prepared to capitalize if the cryptocurrency market begins to rise again, given the volatile nature of digital assets.

Cryptocurrencies have not performed as expected in terms of hedging against inflation. Instead, they have followed the general trend of the market indices, highlighting their volatility and the risks involved in using them as a store of value.

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