As a seasoned crypto investor with a few years of experience under my belt, I’ve seen my fair share of market volatility and price swings. The recent events surrounding Bitcoin (BTC) and the altcoin market have been nothing short of exhilarating.
The price of Bitcoin surged past $60,000 on the weekend, marking a new high since last week’s dramatic drop following an unsuccessful attack on former US President Donald Trump.
Several altcoins have performed even better in the past day, including DOGE, NEAR, SOL, and others.
BTC Jumps Above $60K
possibly due to the uncertainties surrounding the Mt. Gox Bitcoin distribution and Germany’s regulatory actions, Bitcoin experienced a significant decline nine days ago, dropping from above $58,000 to a bottom of below $54,000 – a level not seen in several months.
A recovery effort by the bulls was halted initially but regained momentum at the onset of the previous business week. Additionally, bitcoin reached over $59,000 on certain instances, with the most recent peak occurring following the release of positive US Consumer Price Index (CPI) data on Thursday.
Despite maintaining its advance and reaching $58,000 on Saturday, Bitcoin took a step back on Friday evening, dipping down to $56,500. This downturn was influenced by the tumultuous events surrounding US presidential candidate Donald Trump. However, the failed assassination attempt on his life sparked a rally in the cryptocurrency market and most other assets.
Bitcoin reached a new milestone, surpassing $60,000 for the first time since the previous Friday and currently holding steady at this price level. The digital currency’s market capitalization is close to hitting $1.2 trillion. Additionally, bitcoin’s dominance over alternative cryptocurrencies has grown beyond 51%.
Alts See Green
Among Trump-related assets, there’s been a significant surge of over 10%, but most larger-cap alternatives have started to recover. Ethereum reached a new high of $3,200, gaining around 2% daily. Binance Coin is also on the rise, approaching $540 after a small daily increase.
As an analyst, I’ve observed some noteworthy price increases in the cryptocurrency market. Solana, Dogecoin, and Shiba Inu have delivered impressive gains with Solana rising by 4%, Dogecoin adding 4%, and Shiba Inu recording a 3.6% surge. Among the mid-cap alternatives, ICP has taken the lead with an impressive 9.5% growth. Additionally, APT, NEAR, and MKR have also shown significant gains.
The cryptocurrency market capitalization has experienced significant growth, reaching over $2.330 trillion on CoinGecko, marking an increase of approximately $110 billion since last Friday and an additional $50 billion within the past day.
Read More
- AAVE PREDICTION. AAVE cryptocurrency
- W PREDICTION. W cryptocurrency
- CRTS PREDICTION. CRTS cryptocurrency
- MCADE PREDICTION. MCADE cryptocurrency
- USD TRY PREDICTION
- BNC PREDICTION. BNC cryptocurrency
- Destiny 2: Titans Shine with a New Support Strategy Against the Witness
- Sim Racing: The Buzz Around Moza’s New Porsche Wheel
- Exploring Palworld: The Community’s Take on Spectacular Builds
- Gaming News: Marvel Rivals Stumbles at 540p on Xbox Series S
2024-07-14 11:34