Here you can find out why the prices rose
Here you can find out why the prices rose
- The crypto prices are recovering, with Bitcoin (BTC) increasing by more than 5 % to almost $ 30,000.
- The overall market capitalization has increased by more than 4 % to $ 1.17 trillion, with over $ 46 billion in the last 24 hours.
- Ethereum and XRP are also skyrocketed and are over $ 1,600 or $ 0.52, since ETF talks and ripple messages inspire the markets.
The global market capitalization of cryptocurrencies has increased by 4.6 % to over $ 1.17 trillion, with market capitalization of cryptocurrencies has increased by about $ 46.5 billion in the last 24 hours. According to the Marktaggregator Coingecko, the global 24-hour trade volume was around $ 88 billion.
Why do the crypto prices rise?
A current increase in crypto prices is the reason for the increase in the entire market capitalization of cryptocurrencies. As can be seen in the Heatmap below, the upward trend for Bitcoin (BTC) and the entire Altcoin market has promoted the increase in the overall market capitalization.
Heatmap of the Kryptomarktes. Source: Coin360
The increase in volatility in the sector is probably due to the change in the mood in view of the increasing speculation about developments in the approval of a Bitcoin ETF. While the recent "fake news" on this topic led to Bitcoin and Altcoins made profits in a crazy rally on Monday, the upward trend in the direction of the $ 30,000 mark is back.
Bitcoin rose to a new high of $ 29,961 in the early Friday and thus reached the level of Monday when the benchmark crypto-asset touched the $ 30,000 mark. The BTC Prize has increased by more than 5 % in the last 24 hours and almost 12 % in the past week, and some analysts predict the start of a house-punch rally.
eins #bitcoin is again at 30,000.
The deep is reached, the bear market is over. It is again 2015/2016.
- Michaël van de Poppe (@Cryptomichnl) 20. October 2023
the winnings come because market experts and cryptoanalysts indicate the growing probability of a Bitcoin ETF. Developments such as Blackrock and other asset managers update their submissions to adapt them to the feedback from the SEC.
XRP recovers in the middle of the ripple messages
Apart from the Bitcoin ETF train, another positive catalyst for today's market development could be the news that the SEC has dropped its charges against two top executives from Ripple. The case was dismissed on Thursday after the regulatory authority and Ripple reported to hire the matter.
The XRP price rose to over $ 0.52, while the positive mood on the entire market led to Ethereum broke through the $ 1,600 brand. Solana led the top 10 alcohol and rose with a 24-hour rally from 12 % to over $ 27.
Source: Coinlist.me
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