As a seasoned crypto investor with a knack for navigating the volatile seas of digital currencies, I find myself both exhilarated and cautious at this juncture. Bitcoin’s dance with $100,000 has been nothing short of thrilling, but its inability to break through that barrier has left me intrigued. The swift surges and sudden rejections are reminiscent of a roller coaster ride I once took at Cedar Point – exciting, nerve-wracking, and unpredictable all at once!
Currently, Bitcoin‘s value remains close to the significant $100,000 level, yet it has slightly slowed down in its ascent compared to yesterday, dropping beneath this milestone at present.
On Saturday night, various altcoins experienced significant increases, with DOGE reaching a new high not seen in several years. However, they have since started to retreat as well.
BTC Beneath $100K
After Trump’s decisive win in the U.S. elections, the main cryptocurrency saw a significant increase, rising from around $70,000 to nearly $100,000 within just a few weeks. Yet, it failed to break through into the six-digit range immediately due to the bears successfully holding it back.
Last Thursday marked the occurrence when Bitcoin surpassed $100,000 for the first time, entering a phase of price exploration, and peaked at nearly $104,000 – its highest value ever. However, a swift and intense rejection ensued shortly after, causing the price to plummet by more than $10,000 in a matter of hours, settling at around $92,000 on various trading platforms.
Following a significant displacement of high-leveraged trades, Bitcoin rebounded aggressively on Friday night, reaching a peak of $102,000. Yet, it failed to maintain that elevated level and has since dropped around a few thousand dollars. Earlier today, it even dipped below the $100,000 mark, currently hovering at that price point.
As a researcher, I’ve observed that the market capitalization of this cryptocurrency stands slightly above $1.960 trillion on CoinGecko, while its supremacy among the alternatives has dipped slightly to approximately 51.4%.
PEPE’s New ATH
Over the last 24 hours, as the phrase “altseason” gained popularity on X, numerous alternative coins have seen impressive gains. For instance, PEPE experienced a surge of up to 20% and reached an unprecedented peak of over $0.000026, before slightly adjusting downwards.
Dogecoin reached new heights, coming close to $0.5 for the first time in approximately 3.5 years. On the other hand, Shiba Inu (SHIB) is seeing a rise today amidst some speculation about whether it might potentially be replaced by PEPE by year-end.
Over the past few days, I’ve noticed my XRP investments were on a downward trend, but today, there’s been a surprising 4.5% rise, pushing its value above the $2.5 mark. Compared to other large-cap altcoins, XRP seems to be the more volatile one at the moment.
As a crypto investor, I’ve noticed that the overall crypto market capitalization has dipped by approximately $40 billion since yesterday, bringing it down to roughly $3.820 trillion according to CoinMarketCap.
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2024-12-08 12:02