Bitcoin has stabilized somewhat around $19,000 after the volatility and multi-month low.
While most alts have suffered insignificant losses, Dogecoin is the best performer among the large-cap ones.
Bitcoin Battles for $19K
BTC’s volatility has been high over the past few days, beginning with September 19th’s dip to $18,300. That was a three-month low.
Bitcoin took off in the hours that followed and reached $20,000 just two days later. This was just before the US Federal Reserve meeting, in which Jerome Powell announced an increase of 75 basis points in interest rates.
This sent BTC down, as in previous cases. Within hours, cryptocurrency plunged by nearly $2,000 to a new low of $18,100 after three months.
Despite the massive drop in bitcoin’s value, it reacted quickly and jumped to $19,000 The asset attempted to recover more of its lost value over the last day but was stopped. It now fights for $19,000
Although its market capitalization is still low at $365 billion it has a strong hold on the alts and is now below 39%.
BTCUSD. Source: TradingView
Dogecoin jumps 6%
Altcoins also experienced volatility over the last week. Ripple was undisputed leader in terms gains, rising by 60% per week, possibly due to whales accumulation and developments surrounding the SEC lawsuit. XRP is currently at $0.5 and has retraced more than 8%.
Even though Ethereum is experiencing a slight decline in daily trading, it remains above $1,300. Tron, Polkadot and Cardano are all slightly below the top 10.
MATIC, Binance Coin and Solana have all seen minor increases. Dogecoin is the largest gainer among the larger-cap alts today, with a 6.3% rise that has taken it to $0.065.
QNT and LINK have also seen impressive increases in their mid-cap alts. The total market cap for all crypto assets is $940 billion.
Cryptocurrency Market Overview. Source: Quantify Crypto
CryptoPotato’s Weekend Watch: Bitcoin Fights for $19K, Dogecoin Rises 6.5% appeared first on CryptoPotato.
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