Bitcoin regains $63,000 price tag as market turns positive

ISLAMABAD: The cryptocurrency market remained positive on Monday, with the market capitalization gaining 1.9 percent to reach $2.43 trillion. As of 1430 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, jumped to $63,057 with an increase of 3.1 percent in the last 24 hours. The market capitalization of the biggest crypto has reached $1.242 trillion with this increase. Bitcoin has been 1.3 percent up in the past seven days. Bitcoin (BTC), the most popular cryptocurrency in the world, saw a major dip last week, as it dipped from around $65,000 last Monday to $61,000 today. It is largely expected that BTC bulls will try and maintain support at $59,600 while resistance is expected at around $63,100. Bitcoin traded above $63,000 amid high interest rates in the US and increased regulatory scrutiny against some players in the crypto industry. Despite these challenges, Bitcoin has surged by 127 percent in the last year. However, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, shed 1.3 percent to reach $3,035. With this decrease in price, the market capitalization of ETH has reached $357.2 billion. ETH has gained 4.7 percent of its value during the last seven days. TLTP