Bitcoin Continues to Surge, Breaking $52K
In the past 24 hours, Bitcoin’s price has continued to rise, surpassing the $52,000 mark. This upward trend comes after a strong performance last week, with a 13% gain – the best weekly performance since October 2021.
Although there was a minor retracement on Monday, where the price briefly dipped from $48,800 to $48,000, Bitcoin quickly rebounded. On Wednesday, the cryptocurrency experienced another surge, propelling it past $52,000 and reaching a new multi-year peak.
Bitcoin’s market cap also saw significant growth, surpassing the $1 trillion mark once again and currently standing at $1.025 trillion.
Altcoins Show Positive Momentum
Ethereum has also been performing well, with a 2% increase in the past 24 hours, pushing its price to $2,800 for the first time since May 2022.
Other altcoins such as Binance Coin, Ripple, Cardano, Avalanche, and Dogecoin have also seen notable gains of around 3-4% daily. However, Bitcoin Cash and ICP have experienced retracements.
Lower- and mid-cap altcoins have also been on an impressive winning streak, contributing to the cumulative market cap of all crypto assets reclaiming the $2 trillion level on CoinGecko.
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