In just a couple of hours, the price of Bitcoin rose by 20%.
Bitcoin has dropped below 30,000 several times this week.dollars by testing its 50-day moving average.
This morning, the price of BTC began to rise, breaking through several key support levels and establishing a high around $38,000.
Many people attribute this rise to external factors.– The activity of large institutional investors, their billion-dollar profit reports, and groups on Reddit and Twitter are heating up the stock and cryptocurrency markets.
Elon Musk also added fuel to the fire by using the hashtag #bitcoin and attaching an image of the first cryptocurrency.
The general bullish trend has captured the entire crypto market. ETH rose to $ 1,360, XRP rose 9.86% to $ 0.282, Stellar (XLM) added 13.91%, Cosmos (ATOM) rose 15.41%.
Dogecoin (DOGE) became the hero of the day, which grew by more than 200%.
Dogecoin (DOGE), meme coin, in the last 24 hoursrose 243% to $ 0.04006, with a total market capitalization of just under $ 5.1 billion. The coin overtook Tezos, Monero and EOS, moving up to 13th place.
The total capitalization of the cryptocurrency market is now over a trillion dollars, and the level of dominance of bitcoin is 64.2%.
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