Key Takeaways
- On the 23rd of October, a good number of significant cryptocurrencies recorded a modest exchange rate, seeing the global crypto market cap hit $923 billion
- The total cryptocurrency market size hit a $32 billion market cap, a whopping a 39% increase from what was previously recorded.
On the 23rd of October, a good number of significant cryptocurrencies recorded a modest exchange rate, seeing the global crypto market cap hit $923 billion. A market cap that was hugely more than the previous day-- an increase of more than 0.5%.
However, the last 24 hours have seen a change in the trajectory of the market. The total cryptocurrency market size hit a $32 billion market cap, a whopping a 39% increase from what was previously recorded.
The first significant highlight is Bitcoin's gradual rise to $19,216 after its accumulation of less than 1% in the Asian session. BTC has established a symmetrical triangle form, and an escape from this triangle will be a huge determiner of where BTC's price edges toward in the future. On the other hand, Bitcoin's close rival, Ethereum, is recording a swift rise with a record of more than 1% to trade at $1,313.
Read: FTX to give a 'one-time' $6M compensation to phishing victims
Bitcoin and Ethereum Price Prediction – BTC Breakout Triangle Pattern, Preparing for Lift Off?
During the Asian session, the best performing cryptocurrencies included the following: Bitcoin Gold (BTG), Aptos (APT), and Huobi Token (HT). BTG, in particular, has enjoyed a profit of over 11%, to $18.35. Aptos, on the other hand, recorded an increase of 29% to $9.59.
The Huobi Token price increased swiftly by over 11% to $8.70. The last 24 hours have seen a drastic decline in the price of The Chain (XCN). Also, Axie Infinity's price isn't exempted-- It suffered by dropping more than 2% to around $8.6.
The present Bitcoin price stands at $19,339 and it has recorded an exchange rate of $25 billion in the last 24 hours. It has accumulated more than 0.50% in the last 24 hours. Impressively, it ranks first in the analysis conducted by CoinMarketCap. Customarily, the symmetrical triangle's crash escape leads to an inflation continuum, thus creating a market dominated by bulls.
source: coinmarketcap
On the flipside, a break below the $19,200 range can create a space for exchange until $18,950 or $18,650. Let us know what your thoughts are in the comment section below.
