Cryptocurrency Price Today: Bitcoin Remains Above $42,000, Memecoin BONK Sees 76% Gain

5 views 7:37 am 0 Comments December 19, 2023
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Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, managed to remain stable above the $42,000 mark. Popular altcoins — including the likes of Ethereum (ETH), Solana (SOL), Ripple (XRP), Litecoin (LTC), and Dogecoin (DOGE) — landed in the greens across the board early Friday. Memecoin BONK remained the biggest gainer for the second consecutive day, with a 24-hour jump of over 76 percent. KuCoin Token (KCS), on the other hand, emerged to be the biggest loser, with a 24-hour loss of over 18 percent. 

The global crypto market cap stood at $1.61 trillion at the time of writing, registering a 24-hour gain of 0.74 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $42,749.94, registering a 24-hour dip of 0.09 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 37.27 lakh.

Ethereum (ETH) Price Today

ETH price stood at $2,279.65, marking a 24-hour gain of 1.13 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour jump of 1.86 percent, as per CoinMarketCap data, currently priced at $0.09756. As per WazirX, Dogecoin price in India stood at Rs 8.47.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour dip of 0.55 percent. At the time of writing, it was trading at $72.57. LTC price in India stood at Rs 6,301.09.

Ripple (XRP) Price Today

XRP price stood at $0.6349, seeing a 24-hour jump of 1.75 percent. As per WazirX, Ripple price stood at Rs 55.28.

Solana (SOL) Price Today

Solana price stood at $74.44, marking a 24-hour gain of 6.16 percent. As per WazirX, SOL price in India stood at Rs 6,500. 

Top Crypto Gainers Today (December 15)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Bonk (BONK)

Price: $0.00002448
24-hour gain: 76.36 percent

Helium (HNT)

Price: $6.96
24-hour gain: 27.88 percent

WOO Network (WOO)

Price: $0.3649
24-hour gain: 17.46 percent

ORDI (ORDI)

Price: $63.26
24-hour gain: 15.05 percent

Oasis Network (ROSE)

Price: $0.0949
24-hour gain: 13.31 percent

Top Crypto Losers Today (December 15)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

KuCoin Token (KCS)

Price: $11.09
24-hour loss: 18.04 percent

aelf (ELF)

Price: $0.8175
24-hour loss: 10.18 percent

BitTorrent (New) (BTT)

Price: $0.000001229
24-hour loss: 6.48 percent

VeChain (VET)

Price: $0.03002
24-hour loss: 3.25 percent

Cardano (ADA)

Price: $0.6376
24-hour loss: 2.76 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin reached $43,400 but consolidated at $42,000 within the past 24 hours. The SEC Chair’s remarks on spot BTC ETFs fostered anticipation for approval in early January. Despite a 36 percent deviation from its peak, Bitcoin has demonstrated an impressive 159 percent year-to-date gain. Noteworthy resistance thresholds stand at $43,200 and $43,500, accompanied by support at $41,200, revealing an inherent bullish sentiment in the market.”

Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “In the altcoin universe, a recent crypto BONK (+66.8 percent) has made the news since yesterday. Being pegged as a rival to dog-themed memecoins, BONK has already surpassed SHIB (+1.3 percent) in terms of daily trading volumes. The Solana-based memecoin had spiked after Coinbase announced BONK’s addition to its altcoin listing roadmap. In other news, the Financial Accounting Standards Board (FASB) has come up with a new accounting standard for companies with crypto holdings. FASB will be adopting the new ‘Fair Value Accounting’ for BTC effective fiscals following Dec 15, 2024. This development is likely to facilitate the adoption of BTC as a reserve asset by corporations and fueling the demand.”

Rajagopal Menon, Vice President, WazirX, said, “Bitcoin (BTC) is at a pivotal juncture, aiming to breach the $45,000 mark. The long-term prospects for Bitcoin appear bullish. It has consistently held above the 21-day SMA support, sustaining a value above $40,000, yet struggles to surpass $45,000, standing at $42,872 presently. Analysts foresee a potential upswing to $48,000 upon breaking the current resistance.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin’s recent surge beyond $42,000 signals a market turnaround, driven by the US Federal Reserve’s dovish signals. The decision to maintain steady interest rates and potential rate cuts in 2024, coupled with the Financial Accounting Standards Board’s new rules for fair valuation of crypto holdings, has rejuvenated the market. The SEC’s “Cash Redemption Model” for Bitcoin ETFs adds complexity, emphasizing the regulator’s stringent stance. The Federal Reserve’s stable interest rates have propelled Bitcoin to $42,709, creating an attractive environment amidst lower rates. The evolving landscape, including resistance levels at $44,645 and support at $41,625, paints a bullish picture, with technical indicators hinting at potential rebounds.”

Shivam Thakral, CEO of BuyUcoin, said, “The overall crypto market touched the $1.61 trillion mark. Bitcoin and Ethereum remained well above the $42,000 and $2,200 mark respectively with ETH outperforming BTC in the last 24 hours. After the US Fed announced that it may go for several rate cuts in 2024, there is a wave of positive sentiment across financial markets. We can expect an impressive start of 2024 from Bitcoin and other crypto assets as events like Bitcoin ETF approval are lined up for early 2024. The market is expected to sustain the momentum owing to the macroeconomic factors.”

CoinDCX Research Team told ABP Live, “In the last 24 hours, both BTC and ETH experienced a sudden drop of 2-3 percent, triggering a sharp decline and liquidations in various tokens. Most of the tokens quickly recovered. The cause was linked to Ledger’s revelation that a former employee fell victim to a phishing attack, enabling the attacker to access the Ledger Connectkit Library and introduce a malicious bug.”

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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.