Over the last 24 hours, the cryptocurrency market has surged upwards by $15 billion. This rally is led by BTC and ETH who are trading high up above their price in the last 24 hours. After 5 days of being confined high up the $6,000 price range, bitcoin has bridged $7,000 for the second time this month instilling the hopes of a bull run to traders.
The price of BTC is now up by 5% within the last one day while the other altcoins are following the flagship cryptocurrency’s lead.
Ethereum, escalated upwards to the range of $170 during the wee hours of today. The price of ETH is currently up by roughly 11% over the last 24 hours. XRP has improved by almost 4% while Litecoin, on the other hand has surged by 6%.
Overall, the digital currency market has recovered a massive $15 billion in total market capitalization to reach $202 billion from where the market was on April 15.
Cryptocurrency market and stock market lifted
Similarly, the stocks market has also shown some signs of improvement with the Dow Jones concluding the day with 33 points more than yesterday’s closing point. Furthermore, the S&P 500 has also 16 more points while the NASDAQ has acquired an upwards of up to 140 points.
The boost in stocks market and the cryptocurrency market follows the news that President Donald J. Trump will update the country on the guidelines to reopen the markets later during the day. The move by the president signals a countrywide recovery from COVID-19 may be closer than we think.
The United States president stated that he is planning to speak with the governors and will leave it up to every state to choose when to re-open their economies. The president is confident some parts of the country are ready to resume normal routine by the end of the month.