Bitcoin jumps above $17,000

As cryptocurrency prices rise today, bitcoin surpasses $17,000, and ether gains 8%.
Today’s cryptocurrency prices increased, led by the world’s largest and most popular digital token. Bitcoin was trading more than 4% higher today, at $1,018. However, Ether, the second largest cryptocurrency and the coin linked to the Ethereum blockchain, increased by more than 7% to $1,272.

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Bitcoin jumps above $17,000

On Tuesday, Bitcoin gained about 4% over the previous day. BTC began the week at a low of $16,054 and has since risen above the $16,900 mark. This surge saw BTC rise from around $16,200, where it had been for the past two weeks.

More bulls could soon enter the market and push BTC past the $17,000 milestone if the price continues to move upward. Ethereum, the second-largest cryptocurrency, has also risen in value and is currently trading at $1,270. Bulls may push Ethereum (ETH) beyond $1,300 today, according to Edul Patel, CEO, and Co-Founder of Murex.
According to data from CoinGecko, the market capitalization of all cryptocurrencies worldwide today stayed below the $1 trillion threshold, although increasing in the previous day to $895 billion.
Shiba Inu was up more than 2% at $0.000009, while Dogecoin was trading more than 6% higher at $0.10.

Other cryptocurrency values performed better today as well, with advances seen in the prices of Binance USD, Avalanche, Tether, Terra, Stellar, Polkadot, Solana, Uniswap, ApeCoin, Tron, Polygon, XRP, Cardano, Chainlink, and Litecoin during the past 24 hours.

Genesis, a US cryptocurrency brokerage, announced on Wednesday that it was attempting to avoid bankruptcy after Bloomberg News reported on Tuesday that the company’s creditors were banding together with restructuring attorneys to avoid insolvency.

The sudden demise of FTX, where its derivatives business has around $175 million in frozen assets, led the crypto lending division of US digital asset broker Genesis Trading to restrict customer redemptions earlier this month, the company claimed. It stopped redemptions soon after disclosing on Nov. 10 that it had $175 million locked in an FTX trading account and had previously advised prospective investors that it could need to file for bankruptcy if its efforts to obtain finance failed.
Since Sam Bankman-FTX Fried’s empire fell apart earlier this month, the price of cryptocurrencies has been under pressure. Investors are now keeping an eye on other cryptocurrency businesses to see how far the virus may spread.

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