Bitcoin
BTC$16 537.50

0.10%

Ethereum
ETH$1 215.18

0.17%

Tether
USDT$0.999553

0%

Binance Coin
BNB$311.77

-0.81%

USD Coin
USDC$1.000145

0%

Binance USD
BUSD$1.000525

0.06%

Bitcoin Jumps Most in 2 Weeks to $36K


10 Jun 2021

#Bitcoin

Bitcoin’s price jumped Wednesday by the most in two weeks amid mounting inflation concerns and hopes for mass adoption after El Salvador’s parliament approved the cryptocurrency as legal tender. The cryptocurrency was changing hands near $36,500 at press time, having picked up from a bid near $31,000 late Tuesday. The price was up 9% since 0:00 coordinated universal time, the biggest gain since May 24.

Data released by China early today showed the producer price index (PPI), also known as factory-gate inflation, rose 9% last month, the biggest year-over-year increase since September 2008. China’s PPI typically adds to inflationary pressures worldwide because the country is a major buyer and supplier globally.

“Rising costs everywhere, in particular in China, will be adding to global inflationary pressures,” Dariusz Kowalczyk, an economist at Crédit Agricole, told the Financial Times. “I think we are going to live with higher inflation globally, and what’s happening in China will contribute to that.” That’s bullish for bitcoin, which is widely considered an inflation hedge because the pace of expansion of its supply is reduced by half every four years.

Bitcoin is up about 12% over the past 24-hours, showing near-term resilience. “The market is bottoming on bad news,” wrote David Grider, strategist at FundStrat, in a newsletter published today. China’s Qinghai province has ordered all crypto miners to shut down based on government concerns about high energy usage. And the crackdown on money laundering intensified as Chinese authorities arrested over 1,000 people who allegedly used cryptocurrency to evade the law.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 60.8% 88 $16 537.50 0.10% -0.06% $317 822 304 352 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 59.2% 86 $1 215.18 0.17% 3.58% $148 706 732 936 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 91.6% 1 $0.999553 0% 0.06% $65 333 494 729 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 66.8% 66 $311.77 -0.81% 15.95% $49 874 568 821 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 92.4% 1 $1.000145 0% 0.01% $44 197 320 437 USDC 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 94.4% 1 $1.000525 0.06% 0.04% $22 413 293 222 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 59.6% 80 $0.400048 -0.72% 7.25% $20 121 884 534 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 54.8% 92 $0.103633 13.34% 28.16% $13 749 128 535 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 64% 82 $0.317554 0.33% -0.14% $10 934 620 515 ADA 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 93.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 68% 65 $0.858219 0.62% 3.68% $7 495 959 645 MATIC 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 65.2% 71 $5.39 0.20% -1.00% $6 139 923 968 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 95.2% 1 $1.000045 -0.03% 0.01% $5 726 562 394 DAI 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 66.4% 64 $76.42 0.50% 24.32% $5 479 552 153 LTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 60.8% 82 $0.053646 1.63% 5.42% $5 454 488 141 WTRX 7 days price change

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