Bitcoin, Binance Coin, Dogecoin and Cardano Daily Price Analysis – December 11 Morning Prediction
The global crypto market has seen a revival of gains in recent hours. The performance of Bitcoin, Binance Coin and others shows that there has been a significant improvement. As the market has regained momentum, there has been an increase in capital inflows. Naturally, the dominance of bears turns out to be an indication of a scare for investors. Traders have preferred to invest in the rising market and are likely to continue to do so if the bullish trend continues.
RBI deputy governor has called out CBDCs and said the data related to crypto is not reliable. The ongoing debate regarding the use of cryptocurrencies or Central Bank Digital Currency (CBDCs) has prompted the RBI representative to enter the fray with a few words of caution. Mr. Patra said in a statement that all data available in CBDCs is misleading. The comments came during an online event organized by the Reserve Bank of India.
Mr Patra added that the unreliable data could result in a lack of proper regulation and guidelines for the site of use. He gave various reasons for the unreliability of the available data regarding cryptocurrencies. He further added that lack of proper regulations due to absence of reliable data is the reason behind fraud in the said market. The perpetrators cannot be prosecuted due to a lack of proper regulations.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin and others.
BTC resumes bullishness
A German citizen has been jailed for trying to hire a hitman using Bitcoin. The district court in Berlin sentenced a man to prison for repeatedly trying to hire an assassin with Bitcoin on the deep web. The use of crypto for illegal activities has increased over time.
The performance of Bitcoin has shown hope as the market turned bullish. The latest data shows that it has increased by 0.06% in the last 24 hours. The weekly performance of Bitcoin shows that it has added 1.20%.
The price value of BTC is currently in the area of $17,169.20. The market value of Bitcoin is estimated to be $330,175,688,144. The 24-hour trading volume for Bitcoin is around $12,647,988,478.
BNB in profit
Binance has locked down withdrawals from some accounts amid what its CEO called “just market behavior.” The abnormal price movements on Binance triggered an internal investigation that led to the CEO issuing a statement.
The performance of Binance Coin has also improved as the inflow of capital resumed. The latest data shows that it has increased by 0.99% in a day. The weekly performance of this coin shows that it has fallen 0.02%.
The price value of BNB is currently in the area of $290.15. The market value of this coin is estimated at $46,414,495,872. The 24-hour trading volume for the same coin is approximately $436,978,337.
DOGE turns green
The performance of Dogecoin shows that it has also gone green. The latest data shows that it has increased by 0.11% in the last 24 hours. The weekly performance of this coin shows that it has fallen 6.02%. The price value of DOGE is currently in the range of $0.09686.
The market cap of Dogecoin is estimated to be $12,851,124,742. The 24-hour trading volume for this coin is approximately $206,478,287. The same amount in its original currency is approximately 2,131,769,143 DOGE.
ADA remains bearish
Cardano has yet to resume its rally as the bullish trend continues for it. The latest data shows that it has fallen 0.16% in the last 24 hours. The seven-day data shows that it has decreased 2.51%. The price value of ADA is currently in the range of $0.3123.
The market cap of Cardano is estimated at $10,764,993,201. The 24-hour trading volume for this coin is approximately $88,683,653. The circulating supply of the same coin is approximately 34,471,844,534 ADA.
Final thoughts
The global crypto market has seen a positive trend in recent hours. The performance of Bitcoin, Binance Coin and others shows that they have resumed gains. As the market has resumed recovery, investors have flocked to the market. The improvement has also strengthened the global market value. The latest data shows that it is estimated at 856.61 billion dollars.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com has no responsibility for investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.
