Today, 04/11/2024, the price of Bitcoin is showing a modest recovery, trading above US$ 68 thousand amidst volatility due to the impending US elections. Cryptocurrency traders can anticipate increased price volatility for BTC soon, as the US presidential election set for November 5 could instigate price fluctuations for the asset. This volatility might match the dramatic movements observed earlier in August.
In a downturn, Bitcoin has once again retreated to the $68 zone, where it is currently being traded. At its last bullish peak today, November 4, the asset climbed to the $69.317 level but failed to maintain it and fell back to the current zone.
As of this publication, Bitcoin’s price stands at US$ 68,738.45, marking a 0.5% increase over the past 24 hours, which is approximately R$ 403,700.83 BRL and € 63,073.83 EUR.
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Source: TradingView
Upon examining recent activities on the Bitcoin network, market expert Ali Martinez emphasized the upcoming market volatility as the election draws near. “In three weeks, no one will care who is president of the United States. So your only job is to survive the volatility!”
In line with Bitcoin’s recent movements, most major cryptocurrencies have seen significant price recoveries in the last 24 hours. Ethereum is trading at $2,469.16 with a 0.7% increase in its price. XRP is trading at $0.5119 with a 2% increase. Cardano is currently trading at $0.3324 after a 0.9% drop in the last day. Solana has experienced a 0.5% increase and is trading at $164.26.
In the current landscape, the meme cryptocurrency Dogecoin (DOGE) is drawing attention due to its substantial price increase over the past day, marking the largest among the top 100 crypto assets in the market. At the time of publication, Dogecoin’s price was quoted at $0.1571 with a 5.9% increase in the last 24 hours.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are solely for informational purposes and do not constitute financial, investment, or other forms of advice. Investing or trading in cryptocurrencies involves a risk of financial loss.
Tags:
Bitcoin (BTC), Cryptos