Bitcoin and other altcoins see a sudden surge in price

On November 20, 2021, Bitcoin along with altcoins such as Dogecoin, Ethereum and Shiba Inu saw an upward strike in value. These simultaneous increases happened after these crypto tokens were experiencing downward spikes and were seen sliding off the market the past couple of days this month.

Bitcoin, the world’s most popular cryptocurrency via market capitalization, saw a surge of over 4 percent on Saturday which is equivalent to $58,891. This was after its 3-week drought which was caused by various reasons such as China’s recent crackdown on crypto services and concerns about US taxation. This sudden surge is not long after Bitcoin’s all-time high record of $69,000. 

Meanwhile, Ether, the native coin of the Ethereum blockchain, also saw an increase in its value on Saturday, November 20th with a recorded surge of over 7% which puts its value at $4,314.00. This increase was preceded by the token’s fall under the $4,200.00 mark where it lost a whopping amount of 10.63%. Thankfully, ever since its increase in the past day, Ether is experiencing an all-time high with its trading. 

Similarly, Dogecoin, which is dubbed as the meme cryptocurrency, also experienced the same percentage of increase putting it at $0.23. With how this coin is picking up steam due to its  internet traction and Elon Musk , this upward trend can be expected in the following months to come. 

Finally, the biggest increase was evident with the other dog-based crypto, the Shiba Inu. It saw a rise of over 15% putting its price at $0.000049. 

Other Altcoins that also saw a sudden surge over the past 24 hours include Cardano, Solana, Polkadot, XRP, Litecoin, Uniswap and Stellar. 

Because of these price surges from Bitcoin and various altcoins, the global cryptocurrency market capitalization also saw an increase. According to CoinGecko, which is the largest independent cryptocurrency data aggregator, the market capitalization surged marginally to $2.7 trillion. This is quite an improvement considering that not long before, it recorded a significant decrease 0f 6.15%.  

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