Bitcoin, Binance Coin, Dogecoin, and Shiba Inu Daily Price Analyses – 6 February Roundup

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TL;DR Breakdown The Crypto market continues unimpeded, adding 0.94% in the last 24 hours. Bitcoin has continued to progress, adding 1.52% in the last 24 hours. Binance coin witnesses a halt loses 0.11% in the previous 24 hours. Dogecoin and Shiba Inu continue gaining, adding 7.07% and 28.28%, respectively. The market continues in a positive … Read more

TL;DR Breakdown

  • The Crypto market continues unimpeded, adding 0.94% in the last 24 hours.
  • Bitcoin has continued to progress, adding 1.52% in the last 24 hours.
  • Binance coin witnesses a halt loses 0.11% in the previous 24 hours.
  • Dogecoin and Shiba Inu continue gaining, adding 7.07% and 28.28%, respectively.

The market continues in a positive direction as new additions continue. The new growth has put the long-recessive market back on track. There is no certainty about the market’s bullishness, but it has been a respite for investors.

The US has begun to work on mainstreaming crypto for various purposes. The work on legislation regarding different aspects of crypto shows the US government’s interest. In an update, the US govt. has clarified its intentions to bring crypto use for payments. The mentioned procedure can happen with the help of the Crypto Tax Fairness Act, which the US govt. has introduced very recently.

The global indicators also speak of the revival of the crypto market as the new capital flow has increased. The latest data shows that investor sentiment has improved after the better performance from coins like bitcoin and altcoins. If these coins continue to gain value, the impacts on investors will be even better. It means that new investments might pour in if the market remains bullish.

Here is a brief overview of the market, including coins like bitcoin, Binance coin, etc.

BTC smoothly continuing its gains

Bitcoin has shown extraordinary performance during the previous two weeks. The gains for bitcoin show that it intends to make up for the losses it suffered during the previous market recession.

Source: TradingView

The rise of bitcoin is also the result of new investors who bought it even during the dip. An example is Texas senator Ted Cruz who claims to have purchased bitcoin worth $50,000 in January. There are others as well who have added bitcoin to their wallet.

The data for the last 24 hours shows that bitcoin has gained 1.52%. At the same time, the seven-day performance shows that it has gained 14.45%. The market cap for bitcoin is estimated to be $800,354,919,312. An increase in bitcoin price has been witnessed, as its value has reached $42,233.24.

The value for the 24-hour trading volume is estimated to be $17,766,856,583.

BNB turns bearish, might be a messenger of storm

Binance Coin has been performing well as it has gained 13.78% in the previous seven days. While if we look at its performance for the previous 24 hours, it has deteriorated. The data shows that Binance coin has witnessed a dip of 0.11% in the last 24 hours.

Source: TradingView

The current price for this coin is about $419.22, while it might be even better if the gains resume. The current market cap for the said coin is estimated to be $68,221,055,522. The trading volume for the last 24 hours is about $1,451,282,191. The mentioned value in its native token is 3,461,823 BNB.  

DOGE witnessed a steep increase in value

Dogecoin has been in gain for the past few weeks. The continuous rise in its value has taken its price to $0.1595. The graph for its performance shows that it has regained its losses swiftly. Though there are small fluctuations in the gains, the overperformance is continued value addition.

Source: TradingView

The 24-hour gains have added 7.07%, while seven-day gains show 15.97%. The market cap for this coin has enhanced to $21,050,278,108. The trading volume of this coin for the last 24 hours is estimated to be $924,990,534.

Shiba Inu has also enhanced its gains after the market recession. The new additions have continued after joining hands with Welly’s in the food chain business. Its gains for the last 24 hours amount to 28.28%. At the same time, the weekly performance shows a gain of 43.79%.

Source: TradingView

The price for the said token is $0.0000294, which still needs improvements. The current market cap for this coin is about $16,141,470,827. The trading volume for the last 24 hours is about $2,548,207,547.

Final Thoughts

The market is on its way to gains as it has added new gains taking its value to $1.93T. The new gains mean much for the market from the investors’ perspective. As the new additions continue, investors will pour more capital into the market because of their profits. Thus, it will turn the bearishness-affected market again into bullishness. There are chances that dips might follow new gains, but the market’s overall performance would be satisfactory.  

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