Bitcoin Edges Past $19,000; Solana, Ether Gain Up To 7% In a Day
Yesterday Thursday, the global cryptocurrency market bounced back after days of bloodbath. In advance of the Ethereum merge launch, most cryptocurrency coins bounced back as traders remained hopeful of the event.
Ethereum ran nearly 7% over the past 24 hours. This gave a much boost the cryptocurrency market needed.
Globally, the cryptocurrency market as of today stood at $974.04 billion, which sums up to a 3.72% increase.
Tarusha Mitta, co-founder and COO of UniFarm, said, “The crypto market responded suddenly as the Federal reserve gave a clue concerning a third rate hike of 75 basis points as a segment of its continued attempt to tackle inflation. Vice chairwoman of the Federal Reserve as well expressed her interest in crypto regulation, specially stablecoins, because they have the potential to cause and affect the mainstream financial system in a meaningful way. The general crypto market cap bounced by over 4% and is less than the $1 trillion mark.”
Yesterday, the price of bitcoin jumped by 2.7% to edge past the $19,000 mark again, which it originally lost a couple of days ago.
Edul Patel, CEO and co-founder of Mudrex, said, “After bitcoins falling to its lowest level on Tuesday at $18,558, it is now up again by nearly 3%.
If Bitcoin can stay above its current level as of today, we might soon see it moving close to its resistance level at US$19,400.”
Ether has taken pleasure in a comfortable day in advance of the Merge.
Patel noted, “Ethereum, the second largest cryptocurrency, has gained above 6% hence breaking its initial resistance level, which stood at US$1,537 as the anticipation for the Merge gains momentum. If the volume continues rising, we might see Ethereum breaking out its next resistance at US$1,650.”
Mittal said, “In the altcoin space, MATIC, DOT and AVAX witnessed healthy growth with Terra Classic achieving double-digit growth, which happens to be over 26% during the 24-hour trade.”
“The current speed in the crypto market may keep up if there is an improvement of the macroeconomic factors surrounding the financial market,” she added.
I enjoy marketing, technology and business. I help businesses and brands connect with their ideal customer profiles and build products that excite them and solve their problems.