Bitcoin reports gains of over 5%, hours after POTUS’s tweet on BTC and cryptocurrencies
The price of Bitcoin [BTC] recorded a massive fall of almost 6% overnight. However, it managed to gain back the lost price by almost 4%. After the President of the United States, Donald Trump, tweeted his opinion on Bitcoin and other cryptos, BTC price fell by 3.68%. Alas, because of the support provided by influencers and proponents of the king coin, market sentiment moved Bitcoin to the bullish end as it noted a surge of 5.88% over the past three hours.
Source: Trading view
The king coin has been going through a volatility-induced ride, with the price of Bitcoin climbing towards the sky, at one point, and sky-diving on the other. At press time, BTC was valued at $11,735.32, with a market cap of $208.174 billion. The 24-hour trading volume of BTC was reported to be $26.835 billion as it managed to report a gain of 1.21% over the day. The coin recorded green results due to its performance over the past seven days and grew by 4.81%.
As the crypto-community waits for the altseason to come, the alts are also marching to the tunes of Bitcoin, with XRP reporting a growth of over 5% over the past hour, followed by other major alts.
The Bitcoin market showcased high demand for BTC/USDT pair, according to CoinMarketCap. BW.com reported $947 million in trade volume with BTC/USDT pair, followed by Binance and OKEX, reporting $870 million and $796 million in trade volume, respectively, via BTC/USDT pairs.
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