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%.