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Bitcoin

Bitcoin (BTC) Jumps 10% as October Begins on a Bullish Note, Crypto Market Above $2 Trillion

by Miki 10/01/2021
by Miki 10/01/2021 0 comment

October began on a bullish note for the crypto market as Bitcoin and altcoins added a total of $170 billion in a day. The majority of the crypto market surged in double digits with BTC leading the charge with a 10.62% surge, rising from a daily low of $42,860 to a daily high of $47,668.

Bitcoin
Source: TradingView

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The overall crypto market cap also surged by nearly 10% to grow above $2 trillion again. Currently, the total crypto market cap stands at $2.08 trillion. The price boost comes nearly after a month-long consolidation for the crypto market as September again proved to be a bearish month. However, October has started on a bullish note as predicted by many market pundits and analysts believe it could lead to the second leg of the bull run where Bitcoin and other altcoins could post new ATHs.

Bitcoin
Source: Coin360

Bitcoin earlier reclaimed its 21-week EMA and broke past its monthly high of $41,470-$47,100. A breakout above this range could push the top cryptocurrency in the sub-$50K zone.

#BTC has revisited the very top of its Monthly Range (~41400-$47100)$BTC #Crypto #Bitcoin pic.twitter.com/SDOehskO95

— Rekt Capital (@rektcapital) October 1, 2021

Bitcoin Eyes $50K, Altcoins Make Significant Gains

Bitcoin after breaking the key resistance of $47,000 now set its eyes on $50K, breaking which $55K would be the next target. The top cryptocurrency started the month of September at $53K but lost nearly 20% of its market throughout the month.

Ethereum broke past the key resistance of $3,100 and currently trading at $3,246 with its eyes set on $3,500 as the next key resistance. The altcoin was already gaining bullish momentum with a flip above $3,000 earlier today. The second-largest cryptocurrency has surged over 8% today and might follow on the footpath of $BTC.

Bitcoin
Source: TradingView

The crypto market could now look to reclaim the lost gains from the May-July cycle and September cycle. With Bitcoin Futures ETF is expected to also get passed in October,  and act as a catalyst to carry the bull market further.



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The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

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      Blockchain

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      Blockchain

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