Trading News

Read The Latest News & Analysis

Bitcoin Rises 15% in 3 Hours

Bitcoin Rises 15% in 3 Hours
Share on:

Bitcoin rises 15% in 3 hours today. The move is seen as bullish by many analysts. However, it is still early to jump to a conclusion.

Bitcoin has been trading below $35,000 for the past five days. Nonetheless, we saw a price action on Monday when bitcoin went up 10% within a few hours. The price went on to hit $40K.

The crypto traders saw this as the bullish movement of currency. on the other hand, many thought that the currency may not stand its group above $35K for long. A violent squeeze happened as soon as the price of bitcoin went beyond $35,000.

At the time bitcoin has gained the most among the top 30 crypto assets on CoinMarketCap for the past 24 hours. The altcoins are yet to catch up with the pioneer cryptocurrency. Some enthusiastic traders came up with different indicators showing that the price is again in the bullish zone.

The altcoin market has also gained some value. DOT (Polkadot) and Link (Chainlink) have gained 11% in price. The pro-dogecoin billionaire Elon Musk has also kept tweeting memes about DOGE. However, his attempts at pumping dogecoin haven’t been fruitful this time around.

Bitcoin Rises:

Bitcoin earned massive gains in the first quarter of 2021. The coin reached $64K in April. Nevertheless, the price of the currency went down in the coming months. The demand for bitcoin dried up resulting in a fall below $30K. The recent move is a breath of fresh air for hodlers.

Also Read: El Salvador Becomes the First Country to Adopt Bitcoin

The value of bitcoin rises with the increase in the currency’s demand. Although bitcoin is still believed to be a novel concept in the financial/technological world. Some governments are slowly realizing the potential of BTC but it still has a long way to go before being adopted as a mainstream currency.

Recent News

crypto market

White House Wants to Regulate Crypto as a Matter of National Security

White House is set to present an executive order making it binding on federal agencies to regulate crypto as a matter of national security The US government tends to see crypto

crypto market

Richest Crypto Billionaire CZ has Assets Worth $96 Billion

Cryptocurrency has cultivated a new generation of billionaires The CEO of Binance exchange, Changpeng Zhao, is the richest crypto billionaire with his wealth amounting to $96

crypto market

Crypto Market Keeps Dropping on the Watch

Bitcoin reached $32K on Monday after significantly dropping over the weekend The whole crypto market went south following the pioneer cryptocurrency The sentiments of fear

crypto market

Multi-Million Dollar Crypto Scam: Pakistan to Investigate Binance

Federal Investigation Agency (FIA) of Pakistan has started a criminal investigation into a multi-million dollar crypto scam that involved people sending crypto funds from their

Let's Chat