- Ethereum reached a high of $3,000 for the first time since January 21.
- US stocks rose, with the high-tech Nasdaq gaining ground.
Over the previous 24 hours, the global cryptocurrency market capitalization increased from $1.70 trillion to $1.90 trillion, while trading volumes increased from $68.72 billion to $94.36 billion. On Saturday, Bitcoin climbed to its highest level in more than two weeks, as investors rekindled their enthusiasm for risky investments and stock markets rallied.
At $41,983, the world’s most popular cryptocurrency has gained roughly 16 percent from Thursday’s lows and is up 27 percent from the year’s low of $32,950.72 on January 24. On the other side, Ethereum reached a high of $3,000 for the first time since January 21.
Read More: Bitcoin Price Prediction
Highest One-day Rise Since Mid-June
As technology and growth companies have been shaken in recent weeks by concerns about the Federal Reserve raising interest rates faster than anticipated to contain inflation, Bitcoin had its highest one-day rise since mid-June of 11 percent or more. This is a remarkable rebound after weeks of volatility. Meanwhile, US stocks rose, with the high-tech Nasdaq gaining ground despite the week’s high level of volatility, including Amazon’s substantial expansion and Meta Platforms’ poor results.
These coordinated movements demonstrated how Bitcoin has become significantly more widespread as an individual portfolio in the wake of the recent volatility. Another crypto asset listed, Riot Blockchain, saw its share price rise when it announced that its Bitcoin output had more than quadrupled in January from a year earlier, thanks to the market’s comeback.
According to CoinMarketCap, the Bitcoin price today is $41,420.67 USD with a 24-hour trading volume of $30,449,733,330 USD. Bitcoin is up 9.08% in the last 24 hours.
