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  • Daily Price Analysis of Bitcoin, Binance Coin, FTX Token and Monero – November 4 Morning Forecast

Daily Price Analysis of Bitcoin, Binance Coin, FTX Token and Monero – November 4 Morning Forecast

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  Bitcoin

The global crypto market has seen a positive trend as its value has improved significantly. The performance of Bitcoin, Binance Coin and others has been improved. Since the market has been booming, its profits are likely to increase. The previous few days were difficult for the market as it could not continue its upward trend. This pullback was detrimental to new profits as investors were pessimistic about their investments. The new reversal is likely to push the market to new highs.

The New York Federal Reserve completes experiments using on-chain digital dollars. The Federal Reserve Bank of New York has successfully completed this experiment using digital dollars. The digital dollar will be for complex currency transactions on different blockchains. The experiment has also reduced transaction completion time from two days to less than 15 seconds. This exchange can also be used to convert digital dollars to other foreign currencies.

The experiment is named Seder project: first phase. This project focuses on the potential of central bank digital currencies. Experiments will show whether CBDCs can be used to become a viable option for transactions. This experiment has been successful due to the introduction of multiple currencies for foreign transactions. Previously, only foreign currency was tradable.  

Here is a short overview of the current state of the market, analyzing the performance of Bitcoin, Binance Coin and others.

Bitcoin crossed $21,000

Bitcoin bulls are back in full force as they shake off FOMC losses. Bitcoin price is looking to cross the upcoming hurdles and may be successful given the current scenario. It is likely to rise in value in the coming days as the bulls seem to be strengthening further.

BTCUSD 2022 11 04 20 01 37
Source: TradingView

Recent data for Bitcoin shows that it has tried to come back in full force. The latest data shows that it has increased by 4.44% in the last 24 hours. Weekly data showed a rise of 3.25 percent.

BTC price value is currently in the range of $21,206.06. The market cap of Bitcoin is estimated at 406,784,405,249. Bitcoin’s 24-hour trading volume is about $53,582,423,592.

BNB is rising

Binance and OMFIF have teamed up to support the global think tank’s annual report. Binance will assist OMFIF with its future payments as a result of the recent collaboration between the two. OMIF has shown great interest in promoting blockchain and cryptocurrency.

BNBUSDT 2022 11 04 20 02 02
Source: TradingView

The value of Binance Coin has also shown a tremendous upward trend. The latest data shows that it has increased by 8.39% in the past day. The weekly performance of this coin shows an increase of 21.71%.

The price value of BNB is currently in the range of $356.86. The market value of this coin is estimated at $57,192,960,953. The 24-hour trading volume of this coin is about $1,945,507,879.

FTT revival value

FTX token has also increased its performance due to the upward trend. The latest data shows that it has increased by 4.82% in one day. Weekly data shows a 4.68 percent increase. FTT price value is currently in the range of $25.74.

FTTUSTD 2022 11 04 20 02 36
Source: TradingView

FTX token market cap is estimated at $3,423,781,222. The 24-hour trading volume of this coin is about $104,323,558. The same amount in its native currency is about 4,053,332 FTT.

XMR is gaining momentum again

Monero’s performance has also seen a revival of profits as investors remain bullish on it. The latest data shows that it has increased by 3.05% in the past day. The weekly performance shows an increase of 6.50%. The price value of XMR is currently around $154.67.

XMRUSDT 2022 11 04 20 04 21
Source: TradingView

Monero’s market cap is estimated at $2,818,766,458. The 24-hour trading volume of this coin is about $72,603,578. The circulating supply of this coin is about 18,196,249 XMR.

Final thoughts

The global crypto market has seen a surge in performance due to the influx of capital. The latest data shows a significant change in the value of Bitcoin, Binance Coin and others. With the change in market performance, investors also saw an increase in profits. Global market value has also improved. The latest data shows that it is estimated to be $1.06 trillion.

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