Crypto Price Today: Bitcoin rises above $38,100; Dogecoin, Polkadot jump up to 5%

economictimes.indiatimes.com:

Dogecoin. Meanwhile, the global cryptocurrency market cap surged 1% to around $1.44 trillion in the last 24 hours.

At 11.59 a.m., BTC was trading 0.5% higher at $38,112, while the second most popular token, Ethereum, was up 2.6% at $2,091. Dogecoin also surged over 3.5% to $0.08.

«After ending November with gains of 10%, Bitcoin has been trading range bound since yesterday. The buying pressure on BTC continues to surpass the selling pressure, suggesting that investors’ confidence is sustained and optimistic. Additionally, institutional participation continues to rise, with the latest being MicroStrategy's 10% increase of its BTC holding, translating into approx. $600 million worth of BTC,» Parth Chaturvedi, Investments Lead, CoinSwitch Ventures said.

While key narratives involving the suspected approval of spot BTC ETF applications in the pipeline are sustaining investor sentiments, any new developments within the space can determine BTC’s future performance, Parth 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.

Edul Patel, CEO of Mudrex, said, «Bitcoin is currently trading around the $38,000 level, and this increase in value may potentially be linked to the recent news of MicroStrategy (MSTR) acquiring nearly 16,130 BTC, equivalent to approximately $608 million in November. This acquisition has fostered a positive reaction among market participants, resulting