Altcoins Are on a Rise After Bitcoin’s Price Turns $36,810.50 Back to Support

  • January 29, 2021
  • Jennifer Moore

The price of Bitcoin appears to have turned the $32,000 level while the broader Crypto market witnessed renewed optimism on 28th January back to support. According to market reports,  bitcoin happens to have been steadily climbing higher as far as the price is considered from 31000 dollars to its present value of 36,810.50 dollars. It can be remarked as an increase of approximately 16%. Among the Cryptocurrencies, many were notable gainers. Dogecoin was one among them. 

Dogecoin’s Tweet Volume

Dogecoin happened to be a famous meme coin that turned out to become the advanced beneficiary concerning the 3 million members of the Reddit community behind Blackberry, GameStop, and AMC theatres. According to reports, the tweet volume for the meme exceeded Bitcoin in the last 24 hours, thereby making this meme become a viral sensation in the cryptocurrency world. It is because it is about an altcoin that has been treated approximately higher than Bitcoin over the last 24 hour period. Such a wild activity increased its trading volume as well as its price. 

Also Read: Bitcoin’s Price Could Rise $45K Due To Institutional Investment. What Happens When They Sell?

Cryptocurrency Embracement 

As per reports, various companies are looking forward to conducting a direct listing of common stocks thereby making existing shares accessible to the public. They are looking forward to purchasing shares of Bitcoin trusts over the last months. 

Apart from that, numerous brokerage firms within the United States of America are getting blowback when it comes to halting trading on stocks and holdings. It has been the primary story of this week. 

Also Read: Top 10 Cryptocurrency and Blockchain-Friendly Countries in the World

Overall, the traditional markets experienced a bounce followed by a minor sell-off yesterday. Bitcoin’s strength at the amount of $32,000 coincided with the rally from various altcoins and presently the majority of the best 100 coins happen to be reflecting 3 % to 15% gains. The overall Crypto market cap presently stands at 984.6 billion dollars, thereby making Bitcoins dominance rate at 63.2%. 

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