In the early hours of Monday, November 29, the leading cryptocurrency moved higher — from around $54,000 to above $57,000. Bitcoin rose 5.4% over the last 24 hours, according CoinGecko.
As of writing, digital gold trades at around $57,490, rebounding from a decline after ‘Black Friday’. That correction occurred amid concerns about a new COVID-19 variant, which raised the prospect of governments imposing new restrictions.
Total market capitalization stands at $2.7 trillion, Bitcoin’s market capitalization at $1.08 trillion, with the dominance index at 40%.
Following the lead of the first cryptocurrency, the rest of the market moved into the green. Over the last 24 hours, Ethereum rose 6.7% to surpass $4,330.
Notable growth (26.7%) is demonstrated by The Sandbox (SAND)-платформы The Sandbox (SAND). On November 29 the platform will launch an alpha version of its metaverse for a limited number of users.
The Decentraland (MANA) token rose 14.1% over the last 24 hours.
Economist Alex Krüger noted the market’s ‘overreaction’ and stressed that a reversal typically follows.
Everything bouncing. $BTC +5%. As I said, markets had over reacted in thin holiday liquidity. Over-reactions are followed by reversals. Did you listen to the friendly bears who wanted you to sell after they sold? pic.twitter.com/XhRTznefhL
— Alex Krüger (@krugermacro) November 28, 2021
Earlier, SkyBridge Capital founder Anthony Scaramucci saw in the latest correction an opportunity to add to his positions. He said that, from a fundamental perspective, cryptocurrencies have potential for further growth.
Earlier, Salvadoran President Nayib Bukele said that the state bitcoin fund purchased an additional 100 BTC as the price fell. With the new investment, his balance stands at 1,220 BTC.
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