Wednesday, July 24, 2024

Market Watch March 29: Bitcoin sees impressive gains as it nears $48,000

Bitcoin has recorded impressive gains as it inches closer to the $48,000 mark. The popular BTC is at an all-time high since the start of the year. It breached the $40,000 mark on March 16 and hasn’t looked back ever since. Bitcoin is now trying to reclaim the milestones it had achieved in the past year. Traders believe that Bitcoin’s bearish trend is gone for good. But volatility remains.

Bitcoin, over the past 12 months, showed a daily swing higher than 5.8% in 44 instances. It ranges from a negative 14.4% on May 19 to a 14.6% price increase on February 28. BTC’s rally prompted the broader crypto market capitalization to increase by 15.3% over the past week. The world’s most popular cryptocurrency is up by 1.16%, as per CoinMarketCap, in the last 24-hours. At the time of writing this article, Bitcoin was trading at $47,563. In the last week, it has gained 10.44%.

Ethereum, close at BTC’s heels, has secured a 2.43% gain and is changing hands at $3,387. In the last week, Ether’s price has surged by 11.56%. The altcoins are also in the green. Ripple’s XRP, Cardano, Avalanche, and Solana have recorded gains between 0.84% to 4% in the last 24-hours.

Terra LUNA is the biggest gain. It is up at an impressive 10.49% and is trading at $107.75. Polkadot is the biggest loser. It is down by 1.75% and is trading at $94.05. The popular meme coin Dogecoin has recorded a loss in its price of 2.46% in the last 24-hours, while Shiba Inu has seen gains of 3.21%.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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