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.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | Volume 24h | |
| 1 |  BTC |
Bitcoin predictions | 82.4% | 35 | $43 287.80 | 2.05% | -8.49% | $814 966 927 933 | $32 680 812 854 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 72.8% | 49 | $3 010.99 | 3.55% | -9.89% | $354 338 554 947 | $21 802 081 769 | |
| 3 |  ADA |
Cardano predictions | 60% | 80 | $2.27 | -3.89% | -2.90% | $72 613 126 112 | $5 577 581 472 | |
| 4 |  USDT |
Tether predictions | 94% | 1 | $1.000700 | -0.08% | -0.03% | $68 590 944 713 | $79 368 686 289 | |
| 5 |  BNB |
Binance Coin predictions | 66.8% | 69 | $346.18 | -1.47% | -14.62% | $58 205 321 046 | $1 873 086 247 | |
| 6 |  XRP |
XRP predictions | 70.4% | 52 | $0.947086 | 0.59% | -10.97% | $44 245 636 148 | $3 503 428 805 | |
| 7 |  SOL |
Solana predictions | 66.8% | 72 | $137.06 | -1.92% | -13.76% | $40 744 147 032 | $2 455 458 712 | |
| 8 |  USDC |
USD Coin predictions | 95.2% | 1 | $1.000483 | -0.05% | -0.03% | $31 006 963 781 | $3 830 168 851 | |
| 9 |  DOT |
Polkadot predictions | 67.6% | 69 | $29.44 | -3.25% | -12.15% | $29 070 856 010 | $2 592 379 334 | |
| 10 |  DOGE |
Dogecoin predictions | 64% | 77 | $0.205929 | -0.86% | -12.64% | $27 068 780 737 | $1 515 174 486 | |
| 11 |  AVAX |
Avalanche predictions | 56.8% | 87 | $68.09 | -3.41% | -4.08% | $14 998 710 235 | $1 234 318 562 | |
| 12 |  LUNA |
Terra predictions | 68.4% | 59 | $36.34 | -4.22% | 4.95% | $14 536 281 852 | $1 625 437 616 | |
| 13 |  UNI |
UniSwap predictions | 64.8% | 74 | $23.42 | 20.32% | -1.22% | $14 325 624 849 | $1 167 934 535 | |
| 14 |  BUSD |
Binance USD predictions | 92.4% | 1 | $1.000303 | -0.07% | -0.05% | $13 693 477 670 | $5 597 328 153 | |
| 15 |  LINK |
Chainlink predictions | 67.6% | 70 | $25.06 | 10.18% | -9.97% | $11 403 176 618 | $2 018 605 273 |
