Onwards and Upwards! Cryptocurrency prices’ continue to rally as Dogecoin posts a surge of 17%

© Provided by The Financial Express Industry experts stated that interest rates decrease in December would result in a crypto surge

Bitcoin (BTC)  prices rose for the second day, which probably hinted that perhaps months-long downwards slide known as ‘Crypto Winter’ is coming to an end. BTC was trading two percent higher at $20,780. “Ethereum reached above the $ 1,550 price level. Toncoin and Dogecoin are among the smaller altcoins that experience double-digit gains — 16% and 10%, respectively,” Gaurav Mehta, Catax, crypto and blockchain audit platform told FE Blockchain.

On October 25, Bitcoin climbed above $20,000 for the first time in more than two weeks, completing the token’s most prolonged stay below that price level since late 2020.”After three weeks of stasis, Bitcoin surged beyond $20,700. It successfully resisted the $19,000 support level during this span,” Sharat Chandra, blockchain and emerging tech evangelist, stated.

According to CoinGecko, a crypto data site, the global valuation of crypto market has crossed $1 trillion mark again, thereby clocking a more than three percent rise in the last 24 hours to $1.05 trillion. However, according to Laxman Singh, founder, Bitbatua, a crypto payment gateway Bitcoin has traded nearly in lockstep with risk assets in recent years, as pandemic-era stimulus entered the global economy and central banks like the Federal Reserve raised rates to confront growing inflation.

Meanwhile, industry experts stated that the decrease in interest rates  in December would result in a crypto surge, but it’s unknown if it would lead to another bull market. 

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