Cryptocurrency prices: Bitcoin above $17,000, Ethereum jumps 1%

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Bitcoin | The world's largest and most popular virtual currency, Bitcoin, rose one percent to $17,132.4. Its market value stood at $328.9 billion. The trade volume was at nearly $27 billion.

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"Bitcoin traded higher on Wednesday as market participants reacted to Powell's remarks on interest rates after trading much of the past month below the $17,000 level. If the price can move above the current level, the next resistance would be at $17,622. However, if it falls below that level, BTC might consolidate between $15,476 and $16,910," said Edul Patel, CEO and Co-Founder of Mudrex. 

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Ethereum | The second largest virtual currency, Ethererum or Ether, rose 1.4 percent to $1,289.3 with a market capitalisation of $157.3 billion. The trade volume of Ethereum was $8.5 billion in the last 24 hours.

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On Ethereum, Patel said, "Ethereum also rose above the $1,250 level. This indicates a rise in demand. The next resistance of ETH would lie at $1,335."

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Dogecoin | Meme-based virtual currency, Dogecoin, fell nearly three percent on Thursday. Its market value stood at $13.8 billion. The trade volume was at $1.2 billion.

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Shiba Inu | Shiba Inu fell 0.6 percent with a market capitalisation of $5.1 billion. The trade volume was $163.2 million in the last 24 hours.

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Solana | Solana increased 0.8 percent to $13.9 with a market capitalisation of $5.1 billion. The trade volume of Solana was $317.1 million in the last 24 hours.

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Polygon | Polygon jumped 6.4 percent with a market capitalisation of $8.1 billion. The trade volume was nearly $495 million in the last 24 hours.