On April 2, Bitcoin [BTC] climbed suddenly to the highest level since November. All other major cryptocurrencies have faced a surge ending three months of calm in the $160 billion market and some seeing a major 24 hour growth.
The price of bitcoin hiked gaining more than 14 percent in the market on Tuesday. At the time of press the cryptocurrency was seen trading around $4,679 and the coin peaked at $4,849 according to CoinMarketFeed stats, before dropping slightly.
When compared to yesterday’s chart the market capitalization of the world’s major cryptocurrency has gained almost $10 billion, totaling $82 billion on press time.
According to the stats from CoinMarketFeed's rival coins Ether, Ripple and Litecoin also hiked, as did cryptocurrency-linked stocks in Asia. Experts in the crypto space opinionates that big buy or sell orders in bitcoin can lead to huge moves, in part because volume is spread across dozens of venues.
The second largest cryptocurrecny by market capitalization, Ethereum [ETH] is also following a green trend which saw a 6 percent gain in the last 24 hour. The coin is currently trading at $151 when compared to yesterday’s $140 and its market cap is over $15.8 billion at the time of press.
World’s third largest cryptocurrency by market capitalization, Ripple [XRP] is up by 6 percent today, trading around $0.32 by press time. The coin’s market cap has increased about $900 million in the last 24 hours, reaching $13.8 billion at the peak today.
The total market capitalization of all cryptocurrencies has reached the highest peak $163 billion today. While yesterday’s highest value was $146 billion. The market saw a significant increase in the volume after which it decline to $159.4 billion at press time.
Most of the major cryptocurrencies saw a significant growth in the last 24 hours with with many seeing double digit growth on the day. Cardano [ADA], Litecoin [LTC], Monero [XMR] and Tron [TRX] have seen the most notable gains today; all growing over 10 percent and all other
altcoins faced 5 to 10 percent at the press time.
Recently crypto trader and investor Josh Rager of TokenBacon predicted that the next BTC cycle should peak at $150,000 by 2023. Some investors and crypto enthusiasts are feeling skeptical about the optimistic predictions but some are even more optimistic on BTC hitting $200,000 in the future.