Bitcoin’s Price Jumps $1,000 In 30 Minutes Of Market Growth Across The Board

Bitcoin’s Price Jumps $1,000 In 30 Minutes Of Market Growth Across The Board

The crypto markets experienced an explosion of growth today, April 12, with Bitcoin (BTC) jumping more than $1,000 to break $8,000 over just a 30 minute period, and the rest of the market solidly in the green.

COIN360

While no specific events have been confirmed as the reason for the sharp price jumps across the board, Twitter users have speculated that the recent news that Bitcoin has been declared compliant with Shariah law – according to a report published online today, April 12 – may have contributed to the spike:

BTC is currently trading at around $7,817, up around 14 percent over a 24 hour period.

BTC Value & Volume

Cointelegraph contributor Joseph Young tweeted about the abrupt price rise, commenting on the spike as an example of typical Bitcoin behavior:

Crypto trader and Twitter persona WhalePanda referred to the jump as a “bear trap”:

Ethereum (ETH) also experienced a notable price spike, jumping to around $465 by press time – after a month of hovering around the $400 mark – and is up by more than 12 percent over a 24 hour period.

ETH Value & Volume

Total market cap also hit above $300 bln for the first time this month, dropping slightly down again to $297 bln by press time.

Total Market Capitalization

Of the top ten coins listed on CoinMarketCap, EOS is still up the most, more than 30 percent over a 24 hour period, and trading at around $8.90 by press time. EOS’s price spike could be attributed to EOSIS’s April 9 pre-release of the Dawn 3.0 Blockchain platform.

Some of the other top ten altcoins have seen high percent growth as well, with 9 of the 10 (including BTC) showing more than 10 percent growth over a 24 hour period. Cardano is up around 22 percent over a 24 hour period, trading for around $0.18; IOTA is up 14 percent, trading for around $1.18; and NEO is up almost 13 percent, trading for around $60.

Bitcoin, Ethereum Prices Remain Steady Despite ‘Crypto Ban’ From India’s Central Bank

Bitcoin, Ethereum Prices Remain Steady Despite ‘Crypto Ban’ From India’s Central Bank

Bitcoin, Ethereum Prices Remain Steady Despite ‘Crypto Ban’ From India’s Central Bank

The crypto markets are holding their own this week, with Bitcoin (BTC) not venturing too far away from $7,000, even amid news that India’s central bank would stop dealing with crypto-related businesses.

The relatively steady prices could be attributed to a big adoption win in Asia yesterday, when Omise and OmiseGO signed a Memorandum of Understanding for fintech and Blockchain innovation with a South Korean banking affiliate.

BTC is currently trading for around $6,880, up a little more than 3 percent over a 24 hour period to press time.

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Ethereum (ETH) is also nearing $400, currently trading at around $381 and up a little more than 3 percent over a 24 hour period to press time.

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Of the top ten coins listed on CoinMarketCap, only EOS is in the red, down less than 1 percent over a 24 hour period and trading for around $5.92 to press time.

Monero, which recently updated its protocol to protect the cryptocurrency against ASIC miners, specifically Bitmain’s recently announced Antimer X3, is up a little more than 1 percent over a 24 hour period, in 11th place on CoinMarketCap, trading around $170 by press time.

Total market cap is around $258 bln according to data from CoinMarketCap, up from April 1’s intraweek low of around $243 bln.

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