Bitcoin price gains 40% in a day as altcoins, Cardano and Dogecoin join $42K BTC
It's a sea of green for Bitcoin and altcoins on Thursday as a tsunami of optimism erases the previous crypto bloodbath. Bitcoin (BTC) hit $42,000 on May 20 as altcoins joined the largest cryptocurrency in its record-breaking comeback.
BTC price hits February highs
Data from Cointelegraph Markets Pro and TradingView shows BTC/USD spiking to previous all-time highs from February on Thursday. At the time of writing, volatility was back as bulls sought to tackle what was once formidable resistance. As Cointelegraph reported, the past 24 hours have been a test like no other for Bitcoin as selling pressure drove it to $30,000, only to evaporate and allow a run to $40,000 — all within around five hours.
On Thursday, higher levels remained, with brief spikes hinting at major buy-ins frontrunning a concerted push higher. Versus the local lows, BTC/USD gained an unparalleled 40% in less than 24 hours.
"The most spectacular rallies happen when emotions within the market at their most extreme," popular Twitter trader Rekt Capital said as part of multiple posts as the market rose.
Rekt Capital noted that the Crypto Fear & Greed Index, a key indicator of sentiment, was practically repeating behavior from March 2020 when cryptocurrencies broadly crashed. As such, others were beginning to reveal long positions on the day in a further signal of the belief that the worst of the dip was over.
ADA leads major altcoin rally
With altcoins, opportune moments for gains were also flowing in, with Cardano's ADA up over 70% and Dogecoin (DOGE) up 55%. The latter was flying high once again thanks to Twitter activity from Tesla and SpaceX CEO Elon Musk, who on Thursday hinted at a plan to drive DOGE/USD to $1.
The top 10 cryptocurrencies by market capitalization saw 40% daily returns or more as Bitcoin led battered tokens back to where they were just days before. Ether (ETH) was up 40% at the time of writing, having previously briefly dipped below $2,000.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 62.8% | 76 | $23 396.59 | -0.27% | 1.23% | $451 107 099 851 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 68.4% | 64 | $1 657.83 | 1.20% | 3.76% | $202 875 422 612 |  |
|
| 3 |  USDT |
Tether predictions | 92% | 1 | $1.000118 | 0% | -0.01% | $68 036 636 818 |  |
|
| 4 |  BNB |
Binance Coin predictions | 76.8% | 39 | $330.60 | 3.36% | 7.50% | $52 201 447 647 |  |
|
| 5 |  USDC |
USD Coin predictions | 96% | 1 | $1.000017 | 0% | 0.01% | $41 963 522 546 |  |
|
| 6 |  XRP |
XRP predictions | 75.6% | 51 | $0.409253 | 0.39% | -0.52% | $20 789 661 448 |  |
|
| 7 |  BUSD |
Binance USD predictions | 94.8% | 1 | $1.000189 | 0.04% | 0.02% | $16 275 345 911 |  |
|
| 8 |  ADA |
Cardano predictions | 66.8% | 69 | $0.401320 | 0.57% | 2.97% | $13 885 724 489 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 73.2% | 48 | $0.093563 | 3.08% | 6.89% | $12 413 030 793 |  |
|
| 10 |  MATIC |
Polygon predictions | 66.8% | 64 | $1.23 | 4.16% | 7.23% | $10 735 757 319 |  |
|
| 11 |  STETH |
Lido stETH predictions | 93.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 12 |  SOL |
Solana predictions | 59.2% | 88 | $24.53 | 1.61% | 0.31% | $9 140 950 218 |  |
|
| 13 |  DOT |
Polkadot predictions | 65.2% | 74 | $6.90 | 5.36% | 4.77% | $7 960 238 223 |  |
|
| 14 |  SHIB |
SHIBA INU predictions | 63.2% | 79 | $0.000014 | 17.92% | 21.32% | $7 857 412 436 |  |
|
| 15 |  LTC |
Litecoin predictions | 76.8% | 38 | $99.43 | 0.66% | 12.27% | $7 179 111 477 |  |
