Bitcoin price has finally broken the sideways movement and moved up sharply. In an hour, the Bitcoin (BTC) price moved above the strong resistance at US$3,600 and is now consolidating above the US$3,700 level. This sharp uptrend comes after BTC price moved within a tight trading pattern for weeks. In the last 24-hours, Bitcoin and almost the entire crypto market witnessed a positive uptrend.
Bitcoin Price Jumps by Almost 300 Points in 1-Day Range
The crypto traders got used to a price movement that remained within US$100 variation in an entire day. However, in the past 24-hours Bitcoin price moved from US$3,439.1 to the current level at US$3,719.4, which is a massive upswing of over 280 points.
In fact, at one point in time, the BTC price jumped from US$3,577 to US$3,787 within an hour. It increased by 210 points in just one hour. However, the
Bitcoin Price Jump Pulls Other Major Cryptocurrencies to the Green
As the Bitcoin’s valuation increased, it had positive side effects on other major cryptocurrencies too.
- Ripple (XRP) has increased by over 6% and is now above the US$0.30 level again. At press time, XRP against the USD is trading at $0.309288. It is the second largest crypto (in terms of market capitalization) in the
AltDex100 Cryptocurrency Index.
- Ethereum (ETH) has seen a
double-digit increase (almost 14%) in the last 24 hours. ETH price against the USD is currently trading at just below US$120. However, this tremendous increase hasn’t succeeded it to reclaim the second position in the top 10 cryptocurrency list. However, ETH’s market cap is now 12,523,112,128, which is behind that of XRP by just 245,749,997.
- One of the biggest gainers in the last 24 hours is Litecoin (LTC), which increased by over 34%. This massive upswing helped LTC to replace EOS from the fourth spot in the top 10 cryptocurrency list in terms of market capitalization. Litecoin has increased more by its own merit than that of the upward pull generated by Bitcoin and the overall crypto market’s capitalization.
At press time, all the cryptocurrencies (in terms of market cap) in the top 100 list of ALT100 index are in green. The overall market capitalization of the top 10 cryptos has increased by around US$8 billion (from US$95 billion to US$103 billion) in the last 24-hours.
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