The last 24 hours have been quite dynamic in terms of prices in the cryptocurrency market. Bitcoin fell below $16,000, only to rally towards $17,000 later followed by the rest of the cryptocurrencies.
This happened after CZ and Elon Musk tweeted some news which was obviously viewed positively.
Bitcoin Test $17,000
Bitcoin’s price has been on a rollercoaster ride over the past 24 hours. Things looked pretty grim until a few hours ago when the cryptocurrency headed south and traded below $16,000.
On Binance, BTC hit an intraday low at around $15,800, but that was before CZ and Elon Musk tweeted earlier this morning. Binance’s CEO revealed that his company will run an “industry stimulus fund” to help projects that are strong but are currently experiencing a liquidity crunch. He did not specify what qualifies as “strong”, but said more information would be revealed soon.
At the same time, Elon Musk said that Bitcoin will do so in response to a tweet asking where BTC will be in a year.
This had an immediate effect on the price, which climbed towards $17,000, consolidating at $16,700, where it is currently trading.
Most major altcoins also followed, seeing intraday gains of between 1% and 5%. ETH is up by around 2.7%, BNB – by 1.6%, and so on. Solana is up 7.7% in the last 24 hours and MATIC is also up around 4.4%.
Meanwhile, the biggest gainer over the past day is Trust Wallet’s TWT token, which has surged 46%. KCS is the second best performer with gains of 15%, as is Axie Infinity’s AXS.
In contrast, QNT, XDC and NEXO are the worst performers, all down around 4.5%.
Binance Free $100 (Exclusive): Use this link to sign up and receive $100 free and 10% fee discount on Binance Futures for the first month (terms).
PrimeXBT Special Offer: Use this link to sign up and enter code POTATO50 to receive up to $7,000 on your deposits.
Disclaimer: The information found on CryptoPotato is that of the cited authors. It does not represent the opinions of CryptoPotato on whether to buy, sell or hold investments. You are advised to conduct your own research before making any investment decision. Use the information provided at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.