Bitcoin Tests $21K as Ripple Explodes 14% in 24 Hours (Market Watch) #Bitcoin #Tests #21K #Ripple #Explodes #Hours #Market #Watch Welcome to JibGlobe, here is the new resources we have for you today:
Following the recent volatility, bitcoin managed to sustain above $20,000 and even spiked towards $21,000. The altcoins have also charted some impressive gains in the past 24 hours, with XRP leading the race.
Bitcoin Eyes $21K
After last week’s massive correction, which culminated in an 18-month low at $17,500 on Sunday, the bulls have been trying to recover some of BTC’s lost ground.
This resulted in a jump to $21,500 a few days ago. However, bitcoin failed there and even dipped below $20,000 after Jerome Powell – the Chairman of the Federal Reserve – reaffirmed the central bank’s plans to continue raising interest rates in desperate attempts to fight the skyrocketing inflation.
Nevertheless, BTC recovered quickly to its sub-$20,000 ride and increased above it yesterday. The past 24 hours brought another leg up, and the asset currently sits just inches away from $21,000. Consequently, its market cap has neared $400 billion once again, but its dominance has declined to below 43%.
BTCUSD. Source: TradingView
Notable Bitcoin News
Binance’s CEO believes bitcoin will eventually chart a new all-time high above $69,000, but it could take up to two years to do so.
The legendary legacy investor Mark Mobius called bitcoin a “leading indicator,” which is followed by the Dow Jone and other stock market indices.