Crypto prices surge with bitcoin heading towards $50K. Bitcoin blasted out of $43K on Friday. At the time of this writing, the parent cryptocurrency is trading at $43, 692.
The price of bitcoin reached peaked to reach $45K, the highest point in the past two months. On Sunday, Bitcoin Price reached $45,363. Many altcoins have also followed bitcoin and made gains. The second-biggest cryptocurrency by market capitalization, ethereum hit $3,000 on Saturday.
Crypto price surge brought an additional $300 billion in the market. The added value mainly came from top tokens like Ethereum, Dogecoin, and Uniswap.
Ethereum had its long-awaited London Hard Fork on Thursday. It brought the network close to the upgrade called Ethereum 2.o. Many ethereum enthusiasts are saying that ethereum may cross bitcoin in value, a phenomenon known as ‘flippening’.
Bitcoin, Binance’s BNB, Cardano’s ADA, and XRP have all surged by 5%-10%. The price of Ethereum, Dogecoin, and Uniswap has gone up by 20% to 30%.
Bitcoin tested $30,000 earlier this month. Nonetheless, the coin is looking stronger ever since. The sudden surge of bitcoin was unexpected for many. The analysts believe the bitcoin will keep its top position as the crypto prices surge toward what is believed to be the second bull run of the year.
The US. government is bent over legislating the crypto industry. Infrastructure investment and Jobs Act will include bitcoin and cryptocurrency tax legislation which can have a far-reaching impact on the development of the industry.
The crypto industry has recently grabbed the attention of the world. The currency tested its all-time high (ATH) at $65k in April. However, Bitcoin lost 50% of its value in May. Right now Bitcoin is back in the ring with indicators signaling a revival of bullish trends.