The prices of digital currencies rose today, Thursday, October 7, 2021, and Bitcoin led the significant rise over the course of trading.
The cryptocurrency market succeeded in overcoming the crisis of the Chinese restrictions that banned the trading of cryptocurrencies, to return Bitcoin and its sisters to their previous record levels, which were witnessed at the beginning of this year, when they exceeded the $60,000 barrier.
And Bitcoin (the most famous digital currency in the world) boosted its profits after a tweet by Elon Musk, CEO of Tesla and SpaceX, in which he supported an emerging digital currency.
Over the past days, the digital currencies Bitcoin (the most famous digital currency in the world) and its sisters received support from the testimony of Federal Reserve Chairman “Jerome Powell” before the US Congress, when he denied the central bank’s intention to ban cryptocurrencies, with China recently issuing a similar decision.
“Do you intend to ban or restrict the use of cryptocurrencies as we see in China?” Powell, nicknamed “the economic fox,” answered a question by a senator during his testimony before Congress. He said, “There is no intention to ban it.”
Cryptocurrency rates today
The price of Bitcoin (BTC) jumped during today’s trading, by 6.22%, recording $54,774.41.
The price of Ethereum ETH rose 1.59% to $3541.23.
On the other hand, the price of Chainlink LINK currency declined by 0.88% to reach $26.38.
The price of the DOGE coin (Dogecoin) fell by 5.99% to reach $0.245.
XRP rose 0.90% to $1.07.
The price of Litecoin (LTC) rose 3.07% to $ 179.45.
The price of the Polkadot DOT coin increased by 2.88%, to record about $31.54.
The price of the cardano ADA coin decreased by 0.48% to record $2.19.
The price of the Binance coin BNB decreased by 0.11%, to record $432.98.