Bitcoin surged above $97,000 per coin on Wednesday, suggesting renewed investor optimism around the coin following its plunge earlier this week.
The leading cryptocurrency touched $97,360 earlier on Wednesday but has since declined and is now exchange for $96,320, data from CoinGecko watch.
The coin was quickly approaching $100,000 last week but came to a screeching halt, eventually reaching a new all-time high of $99,645. Over a 24-hour period, Bitcoin is now up more than 5%.
It’s not the only digital asset that’s doing well: The price of Ethereum reached a five-month high price of $3,647. The second largest coin is now priced at $3,625 after surging 9% over the past day.
Ethereum was struggling to make the same gains as Bitcoin, but money is now returning to the space. Nonetheless, the coin needs to climb another 25% before breaking its all-time high of $4,878 in 2021.
And Dogecoin has also risen in price. Elon Musk’s favorite cryptocurrency jumped almost 5% and is Dear to just over $0.40, after falling below $0.37 on Tuesday.
Meme coin sees sharp rise after Tesla CEO started talking has spoken about it again in recent weeks, notably during the election campaign when he supported President-elect Donald Trump. Musk will soon play a role in the Trump administration by co-leading a government agency called DOGE – the Ministry of Government Effectiveness– leading speculators to bet even more on the coin, which last weekend reached its highest price in three years.
Overall, the crypto market is up almost 5% over the past day, with a collective market capitalization of almost 3,500 billion dollars.
Edited by Andrew Hayward
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