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Bitcoin, Ethereum rewards holders, halts December losses

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Bitcoin is catalyst for change, US SEC nominee disagrees with CBN

Bitcoin and Ethereum finally made their way out of the three weeks dip as the cryptocurrency market headed into Christmas period this weekend, with the two crypto averaging two percent rise in value.

In the last 24hour, bitcoin market value appreciated by 3.84 percent to finally hit $51,378 per coin after being stuck under $50,000 in the last three weeks.

Prior to the latest hike in value, BTC traded at $48,060.68, its lowest in 24 hours, but had also sold for $51,378 during the same period, before retracting to $50,836.70.

Sell pressure had kept bitcoin down since attaining it’s All-Time High of $68,990.90 in the second week of November, while Ethereum had also struggled to maintain its peak level of $4,865.57.

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During the period under review, ETH, as Ethereum is also known, recorded a 2.67 percent jump in market’s asking price, to sell at $4,153.82, data from Coindesk disclosed.

But it depreciated to $4,099.68 in the early hours of Friday. Ethereum had, however, traded for as low as $3,897.10 before it exited the grip of the sell pressure that knocked the crypto market into red zone.

Following the rise in their market value, the total investment in bitcoin’s vault rose to $960.45 billion, with a year-to-date growth of 75.39 percent, while ETH’s 457.63 percent YTD rise sprung its market cap to $482.14 billion.

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