As a seasoned analyst with over two decades of experience in the financial markets, I must admit that this week has been nothing short of exhilarating. The rapid surge in Bitcoin and the altcoins, particularly Dogecoin’s meteoric rise, has left me both awestruck and intrigued.
This week has been quite eventful in the crypto market, particularly for Bitcoin, which has been leading the surge. In just the last day, the value of this digital asset reached an unprecedented high of $90,000 but momentarily halted there.
In a similar time period, altcoins have also experienced significant increases, with Dogecoin spearheading this surge due to its extraordinary rise.
BTC Stopped at $90K
This week, which has been exceptionally favorable for Bitcoin, saw further positive momentum today. It’s worth mentioning that the digital asset faced some hurdles at $68,000 during the US election on the previous Tuesday. However, as it became clear that Donald Trump would be the next president, Bitcoin began to rally strongly.
In this recent surge, the asset soared beyond its previous record high set in March and continued to establish new highs consecutively. Additionally, bitcoin reached over $80,000 during the weekend and has maintained an upward trajectory since then. The opening of the current trading week was particularly favorable, with bitcoin reaching a staggering $86,000 on Monday.
During the Asian trading session’s early hours, it climbed steadily, reaching an unprecedented peak of $90,000 earlier today. This new high has been its record so far. However, just as it was about to break through this barrier, the bears reappeared, preventing any further advancement.
Furthermore, they successfully drove Bitcoin down roughly $2,000, and currently, it hovers around $88,000. However, its market capitalization remains significantly high at over $1.7 trillion, while its dominance over alternative cryptocurrencies has increased to approximately 55.9%.
DOGE’s World, but XRP Awakes
It can be confidently stated that Dogecoin has experienced the most significant increase during this seven-day surge. Its value has risen by over 150% throughout this span, with a 50% jump just within the last day, and reaching an unprecedented $0.44 earlier today marking its highest point in three years.
Among the stocks with significant gains in double digits, you’ll find CRO increasing by 35%, BONK rising by 25%, BTT also up by 25%, BRETT growing by 20%, and RENDER showing a 19% increase, as well as others.
Despite a slow week for Ripple, it saw a surge of more than 12% in a single day and is currently trading above $0.65.
The total crypto market cap hit a new all-time high of over $3.1 trillion on CG today.
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2024-11-12 13:02