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 | 73.2% | 55 | $42 798.37 | -0.61% | 1.96% | $810 244 910 076 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 68% | 68 | $3 288.08 | -0.93% | 4.18% | $391 908 921 176 |  |
|
| 3 |  BNB |
Binance Coin predictions | 70.4% | 52 | $486.03 | -1.28% | 10.69% | $81 070 817 335 |  |
|
| 4 |  USDT |
Tether predictions | 96% | 1 | $1.000293 | -0.01% | 0.02% | $78 422 507 589 |  |
|
| 5 |  ADA |
Cardano predictions | 75.6% | 52 | $1.47 | 9.41% | 26.14% | $49 180 930 341 |  |
|
| 6 |  USDC |
USD Coin predictions | 95.6% | 1 | $0.999403 | -0.03% | -0.13% | $45 444 626 250 |  |
|
| 7 |  SOL |
Solana predictions | 65.6% | 78 | $143.58 | -2.42% | 2.15% | $45 085 165 160 |  |
|
| 8 |  XRP |
XRP predictions | 71.6% | 58 | $0.770542 | -1.02% | 2.14% | $36 726 427 109 |  |
|
| 9 |  LUNA |
Terra predictions | 70% | 59 | $83.96 | -2.70% | 15.15% | $30 105 929 387 |  |
|
| 10 |  DOT |
Polkadot predictions | 71.6% | 53 | $26.64 | -5.58% | 6.85% | $26 304 651 272 |  |
|
| 11 |  DOGE |
Dogecoin predictions | 76.8% | 46 | $0.171858 | -4.91% | 13.62% | $22 800 590 095 |  |
|
| 12 |  AVAX |
Avalanche predictions | 63.6% | 76 | $90.03 | -2.50% | 1.10% | $21 999 747 677 |  |
|
| 13 |  MATIC |
Polygon predictions | 71.6% | 54 | $2.40 | 2.86% | 13.87% | $17 560 566 970 |  |
|
| 14 |  SHIB |
SHIBA INU predictions | 70% | 59 | $0.000029 | -3.15% | 3.87% | $16 190 359 531 |  |
|
| 15 |  BUSD |
Binance USD predictions | 94% | 1 | $1.000887 | -0.02% | -0.04% | $14 460 011 930 |  |
