Bitcoin Taps 3-Week High, Cardano Explodes 17% and Reclaims $1 (Market Watch)
Yesterday’s price dip was short-lived as bitcoin went on the offensive again and charted a new three-week high above $43,000. Most altcoins have also turned green, with Cardano, Dogecoin, Shiba Inu, and NEAR Protocol stealing the show.
Bitcoin’s New 3-Week Peak
It was less than a week ago when the primary cryptocurrency dropped to just over $40,000, and the community feared that the asset could decline below that coveted line. However, the situation quickly changed, and BTC initiated an impressive leg up, resulting in touching $42,000.
A brief retracement followed, which brought bitcoin down to $41,000. Nevertheless, the bulls stepped up once again and pushed BTC north. This time, the cryptocurrency touched and briefly exceeded $43,000 for the first time since March 3.
As reported yesterday, though, bitcoin retraced by around a thousand dollars and slipped to $42,000. It went back on the offensive hours later and currently stands around $43,000, marking a new three-week peak earlier in the day.
As a result, its market capitalization has increased to around $820 billion.
ADA, SHIB, DOGE, SOL, and NEAR See Massive Gains
The altcoins were also slightly in the red yesterday, but the landscape is entirely different today.
Ethereum touched $3,000 two days ago but failed to remain there and dipped below $2,900 24 hours later. As of now, the second-largest digital asset stands above $3,00 once again, following a 3% daily increase.
Binance Coin, Ripple, Terra, Avalanche, and Polkadot have also charted minor daily gains.
Cardano is the best performer from the larger-cap alts. ADA has soared by almost 20% in a day, following a Coinbase announcement, and now stands well above $1.1.
Dogecoin follows suit with a 13% increase. This comes after Bitcoin of America ATMs added support for the popular memecoin.
Solana (7%), Shiba Inu (7%), and NEAR Protocol (11%) have also charted impressive gains.
The crypto market cap is up by around $60 billion since yesterday’s low and is close to $2 trillion.
OhNoRipple via https://www.ohnocrypto.com/ @Jordan Lyanchev, @Khareem Sudlow