Bitcoin
BTC$19 140.20

0.69%

Ethereum
ETH$1 052.12

-0.25%

Tether
USDT$0.999073

0%

USD Coin
USDC$1.000180

0.03%

Binance Coin
BNB$216.97

-0.05%

Binance USD
BUSD$1.000661

0.08%

Bitcoin price gains 40% in a day as altcoins, Cardano and Dogecoin join $42K BTC


20 May 2021

#Cardano

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.


Related

A New Era of Financial Security
A New Era of Financial Security
Cardano-based Clay Nation partners with Snoop Dogg on new NFT collection
Cardano-based Clay Nation partners with Snoop Dogg on new NFT collection
Crypto exchange Coinbase to offer ADA staking services
Crypto exchange Coinbase to offer ADA staking services
Cardano daily transaction volume surges but ADA prices slump
Cardano daily transaction volume surges but ADA prices slump
Cardano price paints 'death cross' with ADA at two-month lows vs. Bitcoin
Cardano price paints 'death cross' with ADA at two-month lows vs. Bitcoin
Cardano to enable new DeFi stablecoin with Coti
Cardano to enable new DeFi stablecoin with Coti
ADA price drops 10% following Cardano’s long-awaited smart contracts rollout
ADA price drops 10% following Cardano’s long-awaited smart contracts rollout
Cardano launches smart contracts after successful hard fork
Cardano launches smart contracts after successful hard fork
ADA price hits $3 for the first time as Cardano, Ethereum lead crypto super bull cycle
ADA price hits $3 for the first time as Cardano, Ethereum lead crypto super bull cycle

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 $19 140.20 0.69% -10.68% $365 286 501 881 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 55.6% 93 $1 052.12 -0.25% -14.42% $127 732 400 345 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $0.999073 0% -0.04% $66 020 314 113 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 92% 1 $1.000180 0.03% 0.02% $55 812 644 858 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 61.2% 75 $216.97 -0.05% -9.70% $35 426 838 093 BNB 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 95.2% 1 $1.000661 0.08% 0.04% $17 558 830 487 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 64% 69 $0.316937 1.69% -12.93% $15 321 697 757 XRP 7 days price change
8 Cardano (ADA) ADA Cardano predictions 65.6% 71 $0.448043 0.04% -11.32% $15 122 596 829 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 66% 69 $32.98 0.94% -19.51% $11 325 363 890 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 70.4% 62 $0.066106 1.00% -14.30% $8 770 292 754 DOGE 7 days price change
11 Dai (DAI) DAI Dai predictions 92% 1 $1.000314 0.02% 0% $6 923 688 572 DAI 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 69.6% 67 $6.72 0.35% -17.69% $6 633 125 820 DOT 7 days price change
13 TRON (TRX) TRX TRON predictions 62.4% 74 $0.065691 3.85% -4.12% $6 075 697 886 TRX 7 days price change
14 UNUS SED LEO (LEO) LEO UNUS SED LEO predictions 70% 54 $5.88 2.75% 0.12% $5 608 593 130 LEO 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 68% 63 $0.000010 1.24% -13.41% $5 530 696 233 SHIB 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2022 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.