{"id":24114,"date":"2023-10-20T11:04:42","date_gmt":"2023-10-20T11:04:42","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/heres-why-prices-are-up\/"},"modified":"2023-10-20T11:04:42","modified_gmt":"2023-10-20T11:04:42","slug":"heres-why-prices-are-up","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/heres-why-prices-are-up\/","title":{"rendered":"here\u2019s why prices are up"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687355908760-ba852c4f-4b0d-4d1f-87c5-4636e653d33d-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687355908760-ba852c4f-4b0d-4d1f-87c5-4636e653d33d-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687355908760-ba852c4f-4b0d-4d1f-87c5-4636e653d33d-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687355908760-ba852c4f-4b0d-4d1f-87c5-4636e653d33d-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Crypto prices are rallying, with Bitcoin (BTC) rising more than 5% to near $30k.<\/li>\n<li dir=\"ltr\">Total market cap is up more than 4% to $1.17 trillion, with over $46 billion added in the past 24 hours.<\/li>\n<li dir=\"ltr\">Ethereum and XRP have also spiked, above $1,600 and $0.52 respectively as ETF talk and Ripple news buoy markets.<\/li>\n<\/ul>\n<p dir=\"ltr\">The global cryptocurrency market capitalization is up 4.6% to above $1.17 trillion, with about $46.5 billion added to the crypto market cap in the past 24 hours. The global 24-hour trading volume was about $88 billion, according to data from market aggregator CoinGecko.<\/p>\n<h2 dir=\"ltr\">Why are crypto prices rising?<\/h2>\n<p dir=\"ltr\">A spike in <a href=\"https:\/\/coinjournal.net\/price\/\">crypto prices<\/a> today is the reason behind the uptick in the total cryptocurrency market cap. As can be seen in the heatmap below, the upward trend for <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin (BTC)<\/a> and across the altcoin market, has fueled the jump in total market cap.<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib fr-draggable\" style=\"width: 615px\"><span class=\"fr-img-wrap\"><\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/09\/20\/1697797434964-caaf9cfc-14f1-4e4b-8b5d-78ccc2090695.png\" style=\"width: 700px\" class=\"fr-fic fr-dib\" width=\"700\" height=\"278\"\/><span class=\"fr-inner\">Crypto market heatmap. Source:\u00a0<a href=\"https:\/\/coin360.com\/share\/2023\/10\/5\/0-ad24ebb0-6f32-11ee-ba75-19521ce0c441_1697797393899.png\" rel=\"noopener noreferrer\" target=\"_blank\">Coin360<\/a><\/span><\/p>\n<p><\/span><\/span><\/p>\n<p class=\"fr-img-space-wrap2\">The injection of volatility in the sector is likely the flip in sentiment amid increased speculation on developments around approval for a Bitcoin ETF. While the recent \u201cfake news\u201d on the topic saw Bitcoin and alts give up gains made in a crazy rally on Monday, the upward move towards the $30k level is on again.<\/p>\n<\/div>\n<p dir=\"ltr\">Bitcoin rose to a new high of $29,961 early Friday, spiking towards levels seen on Monday when the benchmark crypto asset touched the $30k mark. BTC price was up more than 5% in the past 24 hours and nearly 12% in the past week, and some analysts are predicting the beginning of a bull market rally.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">One <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> is back to $30,000.  <\/p>\n<p>The low is in, the bear market is over. It&#8217;s 2015\/2016 all over again.<\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1715312968169042002?ref_src=twsrc%5Etfw\">October 20, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">The gains come as market experts and crypto analysts point to the growing probability of a Bitcoin ETF. Developments such as BlackRock and other asset managers update their filings to align with SEC feedback.<\/p>\n<h2 dir=\"ltr\">XRP rallies amid Ripple news<\/h2>\n<p dir=\"ltr\">Other than the Bitcoin ETF train, another positive catalyst for today\u2019s market performance could be the news that the SEC has dropped its charges against two top <a href=\"https:\/\/coinjournal.net\/ripple\/\">Ripple<\/a> executives. The case was dismissed on Thursday after the regulator and Ripple reportedly agreed to end the matter.<\/p>\n<p dir=\"ltr\">XRP price rallied to above $0.52, while positivity across the market saw Ethereum break above $1,600. \u00a0<a href=\"https:\/\/coinjournal.net\/solana\/\">Solana<\/a> led the top 10 altcoins, spiking to above $27 with a 24-hour rally of 12%.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/crypto-rally-adds-46-billion-to-global-market-cap-heres-why-prices-are-up\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Crypto prices are rallying, with Bitcoin (BTC) rising more than 5% to near $30k. Total market cap is up more than 4% to $1.17 trillion, with over $46 billion added in the past 24 hours. Ethereum and XRP have also spiked, above $1,600 [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":24115,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24114"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24114"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24114\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24115"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}