SPY443.91+0.73 0.16%
DIA347.87+0.31 0.09%
IXIC15,047.70-4.55 -0.03%

Why Is Bitcoin Shooting Up Today?

Bitcoin (CRYPTO: BTC) traded 4.96% higher at $49,677.72 over 24 hours in the early hours of Thursday. What’s Moving? The apex cryptocurrency was up 3.96% over a seven-day trailing period at press time.

Benzinga · 09/02/2021 02:12

Bitcoin (CRYPTO: BTC) traded 4.96% higher at $49,677.72 over 24 hours in the early hours of Thursday.

What’s Moving? The apex cryptocurrency was up 3.96% over a seven-day trailing period at press time.

Against Ethereum (CRYPTO: ETH), BTC fell 3.6% over 24 hours. 

Since the year began, BTC has gained 68.14%.

See Also: How To Buy Bitcoin (BTC)

Why Is It Moving? Bitcoin moved in line with other major coins as the cryptocurrency market cap rose 4.48% to $2.19 trillion at press time.

BTC was the second most discussed cryptocurrency on Twitter after ETH, as per Cointrendz data. 

While BTC attracted 6,441 tweets over 24 hours leading to press time, ETH was mentioned in 8,211 tweets.

See Also: Scaramucci Still Sees Bitcoin Going To $100,000 By Year-End

On Wednesday, Pseudonymous analyst Kaleo reiterated that the ascent of BTC from $50,000 to $60,000 levels would be faster than its rise from the $40,000 levels to $50,000. He urged his followers not to blink or they might miss the event. 

Meanwhile, Twitter Inc (NASDAQ:TWTR) is reportedly testing a tipping service that is underpinned by the Lightning network. The beta service allows users to send Bitcoin tips to the “Tip Jar,” a feature that the social network added in May this year.

Read Next: Cardano Shoots Up To All-Time High Above $3