Bitcoin almost reached a new all-time high price of $103,341 on Sunday. It is currently trading at $103,100, close to its highest price ever. Bitcoin has been doing well compared to other cryptocurrencies, with a 3% increase in the last week.
Bitcoin has been very volatile recently. It hit $100,000 for the first time on December 4, but then dropped sharply a few times. This caused problems for traders who were betting on the price to keep going up.
Now, Bitcoin seems to be more stable and is testing another record high. Other cryptocurrencies are also seeing slight increases, but not as significant as Bitcoin.
Dogecoin is up 2% to $0.403, but it dropped 13% in the past week. XRP has gone up 1% to $2.42, but it’s not as high as it was earlier this month.
Overall, the crypto market hasn’t changed much in the last day, down just 0.3%. This has led to less trading activity, with only $196 million worth of positions being wiped out.
Vocabulary List:
- Volatile /ˈvɒl.ə.təl/ (adjective): Liable to change rapidly and unpredictably especially for the worse.
- Cryptocurrency /ˌkrɪp.toʊˈkʌr.ən.si/ (noun): A digital or virtual currency that uses cryptography for security.
- Trading /ˈtreɪ.dɪŋ/ (noun): The action of buying and selling goods and services.
- Significant /sɪɡˈnɪf.ɪ.kənt/ (adjective): Sufficiently great or important to be worthy of attention; noteworthy.
- Activity /ækˈtɪv.ɪ.ti/ (noun): The condition in which things are happening or being done.
- Positions /pəˈzɪʃ.ənz/ (noun): A place where someone or something is located or has been put.
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