As a seasoned researcher with over a decade of experience in the financial markets, I have seen my fair share of volatility and market fluctuations. However, the recent performance of Bitcoin (BTC) has left me absolutely spellbound!
As an analyst, I observed that Bitcoin‘s price fluctuations persistently surge, reaching approximately $102,000 the previous day, only to be halted briefly and subsequently slide downward slightly.
The altcoin space is well in the green now after the Friday morning correction, including XRP, which has finally reclaimed the $2.4 level.
BTC Looks Toward $100K
This week was marked by another significant milestone in the cryptocurrency world, as many had long considered it unlikely: Bitcoin surpassed expectations. After experiencing a drop to around $93,500 on Tuesday and $94,500 on Wednesday, the leading digital currency regained momentum on Thursday, soaring nearly $10,000. Consequently, it successfully breached the sought-after $100,000 threshold and reached a brand new peak of $103,800.
Following its entry into a new six-figure realm, the value took a dramatic plunge, experiencing what is known as a flash crash. This sudden drop might have been caused by a high volume of leveraged investments, as bitcoin fell sharply by more than $10,000 and momentarily dipped to approximately $92,000 during Friday morning trading hours.
After hitting it, the price started to pick up speed again quite quickly. Consequently, it surpassed $100,000 once more on Friday night, reaching a high of $102,000. Yet another rejection occurred, and Bitcoin now hovers just beneath the milestone of seven digits.
On cryptocurrency exchanges, its market value has dropped slightly to nearly $2 trillion, while its control over alternative cryptocurrencies has decreased to approximately 51.4%.
HBAR Enters Top 20
On Friday morning, altcoins experienced increased volatility, similar to what others faced, however, they are currently showing positive growth. Even Ethereum surpassed $4,000 in the evening of the previous day but has since retreated slightly, hovering just below that mark now. XRP, on the other hand, had a lackluster performance over the past couple of days, but it has risen by 6% since yesterday and is now above $2.4.
Among the daily risers, you’ll find coins like BNB, DOGE, ADA, SHIB, XLM, LINK, and APT. However, HBAR has been particularly noteworthy, skyrocketing by nearly 20% today. On a weekly basis, it has jumped an impressive 100%, and on a monthly scale, it has astonishingly increased by a staggering 590%.
The total crypto market cap remains close to its peak at just under $3.850 trillion.
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2024-12-07 13:10