Bitcoin crosses $57,000 for the first time in five months — altcoins continue to struggle

Oct 12, 2021

By: BI India Bureau

The crypto market is a mix of red and green today

While Bitcoin is leading the herd, altcoins aren’t feeling the excitement

Credit: Business Insider India

Bitcoin crossed $57,000 in the last 24 hours

It has currently settled at $56,585

Credit: Business Insider India

Bitcoin is at its highest in five months

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Investors are waiting to see whether the rally will continue

Analysts believe Bitcoin will likely need a fresh catalyst to to cross $60,000

Credit: Business Insider India

Ethereum’s price remains stagnant at $3,472

Analysts believe this will not be the status quo for long given the growing popularity of DeFi and NFTs

Credit: Business Insider India

Cardano continues to underperform

The ‘Ethereum Killer’ is down by 5.47 percent in the last 24 hours at a price of $2.09

Credit: Business Insider India

Binance Coin is not faring much better

At $404.96, the cryptocurrency has dipped by 1.67 percent since yesterday

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Ripple’s XRP is managing to keep its head above water

Despite a drop of 5.4 percent, it’s price is above the $1 threshold at $1.09

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Solana is in the red for the fourth straight day

It is down by 5.34 percent at a price of $414.19

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Polkadot’s price is at $32.97 — down by 5.03 percent

It has fared better than its counterparts, Solana and Cardano, being the only one to still be in the green as compared to last week

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The tenth biggest cryptocurrency by market value is currently priced at $0.224

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Disclaimer

These are top cryptocurrencies by volume according to CoinMarketCap | Prices updated as of October 12, 9.00 am IST and may change over the course of the day

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