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    Breaking: NNPC stations selling fuel above ₦500 in Port Harcourt and other cities

    Breaking: NNPC stations selling fuel above ₦500 in Port Harcourt and other cities

    Senate Amends ICPC Act – Writers of false petitions to get two years jail term

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    Breaking: NNPC releases statement on fuel price adjustment

    Breaking: NNPC releases statement on fuel price adjustment

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    Breaking: NNPC stations selling fuel above ₦500 in Port Harcourt and other cities

    Breaking: NNPC stations selling fuel above ₦500 in Port Harcourt and other cities

    Senate Amends ICPC Act – Writers of false petitions to get two years jail term

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    Shettima, House of Reps, NNPCL back Tinubu’s removal of fuel subsidy

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    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    BREAKING: CBN raises interest rate to 18.5% amid rising inflation

    JUST IN: Nigeria’s inflation rate hits 19.64% – highest since 2005.

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    FG re-introduces 5% excise duty on telecom services in new fiscal policy

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    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    The NGX- ASI gained 5.22% on bullish performance

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    The NGX- ASI increased by 0.48% as Unilever gained 9.70%

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    Breaking: NNPC releases statement on fuel price adjustment

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    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

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Home Markets Cryptocurrencies

Bitcoin surges above $21,000 for the first time in over 2 months

Saturday, 14 January 2023, 7:40 am
in Cryptocurrencies, Markets
0
Bitcoin soars above $21,000 as U.S. dollar sags
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The largest cryptocurrency rose to as much as $21,185 Saturday morning.  It hadn’t been above $20,000 since Nov. 8, and Saturday marked its 11th straight day advancing.

It has however dropped some of gains, trading at $20,913.1 at 06:21 GMT.

Second-largest Ether is gaining 10.27% trading at $1,551.28 and other tokens like Cardano, BNB and Dogecoin also notched solid gains.

The overall market cap of the crypto universe rose above $1 trillion for the first time since early November, according to data from CoinGecko.

Bitcoin is up more than 25 per cent from the year’s low of $16,496 on January 1.

The gains came amid a report on consumer prices last week that showed the US inflation declining in January from December levels. The Federal Reserve is on track to downshift to smaller interest-rate increases following that further cooling, though it’s likely to keep hiking until price pressures show more definitive signs of slowing, according to Bloomberg.

“Cryptoassets performed well following the soft CPI print, suggesting that crypto’s correlation to macro is not going away anytime soon,” said Sean Farrell, head of digital asset strategy at Fundstrat.

“This week’s follow-through in price action is certainly encouraging,” and barring any forced liquidations from troubled crypto company DCG “there is a high probability that the absolute bottom is in for crypto prices.”

The price of Bitcoin was stuck in a narrow range around $16,000 to $17,000 for weeks before this latest breakout.

Ifunanya Ikueze
Ifunanya Ikueze

Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.

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MTN Nigeria to pay over N200 billion final dividend for 2022

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