Daily Price Analysis of Bitcoin, Binance Coin, Dogecoin and Stellar XLM – March 1 Bullish
TL analysis; DR
- The global crypto market continues to increase in value, adding 1.34% in 24 hours.
- Bitcoin also continued to increase in price over the past 24 hours, adding 2.10%.
- Binance Coin also took advantage of the favorable situation, gaining 3.82% in 24 hours.
- Dogecoin continues to rise, adding 1.07%, while Stellar XLM lost 0.66% in the previous 24 hours.
The global crypto market has been using the stability of the US dollar’s value as it continues to gain ground following new reforms. The problem facing the US economy is inflation, and the US authorities have continued to take measures to contain it. One of them was the Federal Reserve’s decision to raise interest rates. These measures are already starting to bear fruit as the dollar moves towards stability. Due to the stable dollar, Bitcoin has also increased in value. As a result, it has affected the global cryptocurrency market.
Although the market continues to face the issue of geopolitical tension, the damage that the crypto market faces has been mitigated. The rise in the Russian attack has increased donations to Ukrainians in crypto. An important part of this is Polkadot, while Bitcoin, Binance, Ethereum, etc., also play an important role. The drop in the value of gold against the dollar has also helped the cryptocurrency increase in value. People need a safe investment to keep their capital protected. Cryptocurrencies could soon take over this role if the market continues to thrive.
Below is a brief overview of the market situation using currencies such as Bitcoin, Binance Coin, and several other major currencies.
BTC continues to grow
Bitcoin has been stabilized by the growth in the market due to the inflow of US capital. The main reason Bitcoin lags behind in gains is the sluggish US dollar due to rising inflation. Bitcoin has continued to grow over the past few days and if the inflows continue, it could move even higher.
Data over the past 24 hours shows Bitcoin up 2.10% from a weekly gain of 15.53%. The gain in the previous 24 hours is much lower than the other day and it can decrease if the profit value drops. The current price of Bitcoin is around $44,050.47.
Chart analysis of weekly performance shows that Bitcoin has fluctuated over the past 24 hours. The market capitalization of this coin is estimated at $835,727,150,915. Meanwhile, the 24-hour trading volume is estimated at $32,187.653,781.
BNB does not reduce profits
Binance Coin has also continued to prosper as the market remains favorable. Data for the past 24 hours shows it has increased by 3.82%. Meanwhile, the weekly return amount is higher, i.e. 8.25%. If we look at its price, it has improved after new increments are added to its bulk. It is in the range of $409.35.
The stable Binance coin market, therefore, has been added to its market capitalization. The value in question is estimated at $67,795,831,131. The 24-hour trading volume has increased to $2,889,376,491.
It has fluctuated over the past 24 hours but can still sustain gains.
DOGE continues to be stable
Dogecoin has also continued to grow. In the past 24 hours, its performance shows that it has increased by 1.07%. If we look at the data for seven days, it shows an increase of 1.88%. As a result, its weekly and daily returns are roughly in balance. The current price for Doge is estimated at $0.1338.
The market capitalization of Dogecoin has continued to grow stronger and is estimated at $17,756,179,147. The coin’s 25-hour trading volume is estimated at $835,998,522. The circulating supply for this coin is around 132,670.764,300 DOGE.
XLM turns to discount
XLM didn’t continue to grow and it changed course. Data for the past 24 hours shows it has dropped 0.66%. On the contrary, its past seven days are quite upbeat as it is up 4.92%. Recent losses also affected its price, which fell to $0.195.
The current market capitalization of XLM is estimated at $4,878,620,879. XLM’s trading volume for the last 24 hours is estimated at $331,097,741. Its circulating supply has an estimated value of 24,971,219,256 XLM.
The chart for this currency shows volatility and it is likely to regain value soon after the pattern changes.
The market has continued to improve as the global market cap has touched the $1.93T level. A major part of the recent gains has been bitcoin, which continues to prosper. Bitcoin’s strength against gold and rubles has added to new investments. The market has followed the pattern established by Bitcoin. Since it curtailed gains, the market couldn’t make any major additions either. Currently, the market is moving in the right direction, and there are high hopes that it will continue in this direction.
https://www.cryptopolitan.com/bitcoin-binance-coin-dogecoin-and-stellar-xlm-daily-price-analyses-1-march-roundup/ Daily Price Analysis of Bitcoin, Binance Coin, Dogecoin and Stellar XLM – March 1 Bullish