The price of Bitcoin took a hit due to tensions between Israel and Iran, dipping under $60,000 during the nighttime hours. However, relief came when Iran reportedly announced they wouldn’t respond right away, causing Bitcoin’s value to surge back up to around $65,000.
Most altcoins went through a wild ride similar to Bitcoin, but at the moment, the majority of them are showing gains on a daily basis.
BTC’s Dump and Pump
Last week, Bitcoin experienced a sudden decrease in value, dropping from over $70,000 to $65,000 following remarks made by the US Fed regarding interest rates. The next day, the cryptocurrency dipped further down to $61,000 due to tensions between Israel and Iran escalating with gunfire.
On Monday, the asset made some progress and regained a bit of value. However, this improvement didn’t last long. The pessimistic attitude towards the market remained strong, preventing Bitcoin from making significant strides. Instead, it faced several setbacks, dipping below $60,000 on multiple occasions.
This morning, the price of Bitcoin dipped to a low of approximately $59,500 after Israel retaliated against Iran. However, Bitcoin quickly bounced back and almost entirely recovered its losses within moments. In fact, it recently spiked up to $65,000 based on reports suggesting that Iran has no imminent plans for an attack against Israel.
Despite currently sitting below the $65,000 mark, Bitcoin has experienced a 5% increase in value within the last 24 hours. Its market capitalization hovers around $1.3 trillion, and it maintains control over the altcoins with a dominance rate of 51.7%.
TON, ICP on the Run
In the previous day, many alternative cryptocurrencies, including Ethereum (ETH), experienced volatility similar to Bitcoin (BTC). For instance, ETH plunged significantly below $2,900 but has since rebounded and is now hovering around $3,100 after a daily growth of approximately 3%.
Among the larger alternative cryptocurrencies, Solana (SOL), Toncoin (TON), and ICP have stood out with impressive performances. Specifically, Solana has experienced a nearly 10% increase, reaching a price above $140. Toncoin has seen a significant daily surge of approximately 17%, bringing its price close to the $7 mark. Lastly, ICP has gained around 10%, pushing its price up to roughly $13.
Approximately $300 million worth of securities were forcedly sold in the market during the last 24 hours due to its unstable condition.
Other cryptocurrencies besides Bitcoin are also showing gains, though to a lesser degree. This collective increase has caused the total crypto market capitalization to rise by approximately $100 billion each day. Consequently, the market cap metric now stands at around $2.43 trillion on CoinGecko.
Read More
- CKB PREDICTION. CKB cryptocurrency
- PBX PREDICTION. PBX cryptocurrency
- BSW PREDICTION. BSW cryptocurrency
- EUR INR PREDICTION
- ‘Starting 5’: LeBron James, Jayson Tatum and Jimmy Butler Among NBA Players Featured in Obamas-Produced Sports Series
- IMX PREDICTION. IMX cryptocurrency
- GEAR PREDICTION. GEAR cryptocurrency
- Exploring the Hilarious World of Helldivers’ Ricochet Gameplay
- ICP PREDICTION. ICP cryptocurrency
- TANK PREDICTION. TANK cryptocurrency
2024-04-19 10:50