Bitcoin breaks $41,000 mark for the first time in 19 months, crypto m-cap crosses $1.5 trillion

economictimes.indiatimes.com:

cryptocurrency, jumped 5.2% to $41,476 in Monday's trade amid excitement about US interest rate cuts and as traders anticipate the imminent approval of US stock market traded bitcoin funds. This is the first time that Bitcoin crossed the $41,000 mark in the last 19 months.
Meanwhile, Ethereum, the second largest cryptocurrency, surged 4.4% to $2,251.8 amid a broader rally in the crypto markets. The global cryptocurrency market cap also surged 4.18% to around $1.54 trillion in the last 24 hours.

«The crypto market is witnessing its best performance since May 2022 with Bitcoin and Ethereum breaching the $41,000 and $2,200 mark respectively. The US Fed is expected to cut the interest rate in 2024 and that may boost the liquidity in the market, we may be witnessing early signs of the same,» said Shivam Thakral, CEO of BuyUcoin.

«The US Committee on Financial Services calling a December 8 hearing on digital assets may lead to a strong regulatory framework focussing on investor protection, which could prove highly beneficial for the broader digital asset market. The growing optimism around Bitcoin ETF approval will continue to create waves of positive sentiments within the global digital asset community and we can expect this momentum to sustain in the coming weeks,» he said.

Did you Know?

As a beginner to cryptocurrency investing, you should consider two critical things. First, you should determine and understand your risk tolerance, as cryptocurrencies can be volatile. Only invest what you can afford to lose. Secondly, don’t put all your funds in one cryptocurrency; diversify to mitigate risks. Deciding where to invest your hard-earned money can be difficult.

Ryan Lee, Chief Analyst of Bitget Research, said,