Bitcoin Retouched $40000 and Dogcoin Soared 33% Due to Twitter News of Musk

Written by C, Fiona

Last updated: 2022-04-27

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Driven by the soaring price of Dogecoin, today’s cryptocurrency market has become green. Bitcoin jumped above $40000 after rising 5% a day.After hitting a multi week low of $38000, bitcoin launched an offensive and recaptured $40000. Today’s alternative currency is also green. Dogecoin rose 33% after Elon Musk twitter news.

Bitcoin Recaptured $40000

In the past few days, the bear market has almost completely controlled the market. All this began on April 21, when the asset was rejected at $43000 after several days of rising prices.Within a few hours, the cryptocurrency sold to $40000, even below that level the next day. The situation worsened yesterday, with BTC falling to just over $38000. This is its lowest price tag since mid March.

However, at this time, the Bulls stepped forward and reversed the trajectory of the asset. Instead of going further south, BTC began to appreciate rapidly and soared to more than $40000, which is where it is now. As a result, the market value of bitcoin has jumped to about $77.5 billion. This appeared in the positive adoption message that fidelity will allow investors to add BTC to their 401k account.

Dogecoin Leads the Rebound of Altcoins

Yesterday, altcoins suffered as much as BTC, but today’s situation is mainly bullish. Ethereum found itself trading at $2800 after several days of falling prices. But now, a 7% increase has pushed the second-largest cryptocurrency to just over $3000.Binance coin and Solana are also below the integer milestone, but BNB is now above $400 and sol is above $100.

Terra is slightly close to $100 after rising 8% a day. Ripple, Cardano, Polkadot, avalanche and Shiba Inu increased more significantly. Dogecoin was the best performer here, up 33%. This happened after confirming that Elon Musk did buy twitter. Considering his favor for the first memecoin, the price surge is not so surprising.

Overall, the market value of cryptocurrency rose by more than $100 billion in one day, close to $1.9 trillion.