Bitcoin cash soars 50% while BTC remains calm at $50K as we can see in our Bitcoin Cash news and analysis today.
Despite retracing after the two-week high by a few hundred dollars, BTC remained calm above $50,000 and the rest of the altcoins are all in the red following the gains of yesterday only with a few exceptions like Bitcoin cash that increased by 50%.
After a few weeks of drops, Bitcoin fianlly launched an impressive leg up in which it broke above $50,000 and the cryptocurrency even kept going upwards in the upcoming hours and reached a new high of almost $52,000. however, it failed to continue increasing as the bears stepped in. They pushed the coin south but Bitcoin still stands near $51,000. It’s worth noting that the asset wasn’t able to trade above $50,000 for two days in a row since the recent price crash. The current price levels means that the BTC market capitalization remained above $950 billion while the dominance over the altcoins is near 40.6%.
The alternative coins registered some notable gains as well. Ethereum led the charge with a rise above $4100 a few days after struggling below $3800. the minor decrease since then drove ETH to shy of $4100. Binance Coin remained still at $550 while Bitcoin Cash soars 50%. there were some minor losses coming from Polkadot, SHIB, LTC and Chainlink while Avalanche, Ripple and MATIC dropped a little more. Solana, DOGE and CRO are in the green today as SOL spiked by 2% to above $190, DOGE is up by more than 5% and CRO increased by 7.5% to $0.65. Bitcoin Cash ABC is one of the biggest gainers from the top 10 coins with a 50% surge to $100 and the rest of the market cap declined a little and stands under $2.4 trillion.
As we reported recently, Bitcoin’s Christmas holidays can start as the price today broke the $50,000 after struggling for weeks and now it is trading near $50,978.58 which marks a 3.4% increase in the past day and it is still 26.6% shy of its all-time high that was reached on November set at $69,044.77 but the last time that it was above $50,000 was about 11 days ago. The analysts said that December’s slump was due to the year-end profit-taking and people selling to purchase presents and that BTC will likely make a come-back in the new year. Ethereum as the second biggest crypto by market cap also made some gains of 2.5% in the past day but the asset is now trading for $4,124 after dipping below its all-time high of $4,878 over the past month.
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