Bitcoin price unexpectedly increased by more than 12% to surpass $ 34,000, pushing the market cap to reach $ 630 billion
The prices of most cryptocurrencies have risen sharply over the past 24 hours. Bitcoin price unexpectedly increased by more than 12% to surpass $ 34,000, pushing the market cap to reach $ 630 billion. Early today, Bitcoin is trading at $ 33,663, up 11.3%, or $ 3,405 per coin.
Source: CoinMarketCap
Bitcoin price increased steadily, green covered the market
Over the last 24 hours, Bitcoin’s price ranged from $ 29,921 to $ 34,278 as the lowest and highest. According to CoinMarketCap, just during this period, Bitcoin trading volume reached $ 75.2 billion, market capitalization reached $ 630 billion.
In the top 10 cryptocurrencies in terms of capitalization, the number of price increases is absolute. Specifically, Ethereum increased 5.1% to $ 1,347, market capitalization is currently recorded at $ 154.8 billion, trading volume in the last 24 hours reached $ 34.5 billion. In the last 7 days, Bitcoin is up 17%.
Polkadot increased 9.5% to $ 17.19; XRP increased 4.7% to $ 0.267; Cardano increased 10.6% to $ 0.351; Chainlink increased 10.9% to $ 23.4; Litecoin rose 7.64% to $ 134.8; Bitcoin Cash increased 7.3% to $ 409.8.
Thanks to the strong growth of top cryptocurrencies, the total cryptocurrency market cap soared to $ 988.6 billion, an increase of 9.8 percent.
Bitcoin soared in the past 24 hours but is still a long way from the $ 42,000 peak set in January.
Bitcoin is a cryptocurrency with strong price fluctuations. In 2020, this cryptocurrency is up nearly 300%. The reason for this price increase lies in the increasing number of investors pouring capital into cryptocurrencies. In the context of the COVID-19 pandemic, the central banks around the world forcefully lower interest rates and pump money to save economic growth, causing devaluation pressure on paper money, paving the way for the rise of assets. like gold or Bitcoin.
Many investors believe that once Bitcoin is fully mined, the value of the cryptocurrency will only increase. A series of big names in the world financial world such as BlackRock, Square, PayPal … recently have statements or actions in favor of Bitcoin.
Previously, in December 2017, the Bitcoin price increased to nearly $ 20,000 and then fell below $ 3,300.
Read more:
- The Federal Reserve Announced It Would Keep Its Overnight Interest Rate Near Zero, What Does This Mean For Bitcoin?
- Guggenheim’s Scott Minerd Said The Institutional Investor Base Was Not Big Enough To Sustain The Current Bitcoin Price