After a rapid jump on Wednesday morning Asia time, Bitcoin, the most valuable cryptocurrency by market capitalization, reached the US$40,000 barrier before reverting to its pre-surge price in less than two hours.
The price of bitcoin has been stable for the past five days. Of course, with the rapid jump on Wednesday morning being the only noticeable price activity in that timeframe.
Bitcoin has since fallen to US$39,065, a trading price that is lower than the cryptocurrency’s recent ascent.
With the exception of stablecoins and Waves, all of CoinGecko’s top 50 cryptocurrencies followed Bitcoin’s dramatic price movement in this two-hour interval.
Waves is a Web 3.0 development toolset, and its cryptocurrency is currently trading at US$30.39. That’s, up 16.5 percent in the last 24 hours, second only to The Graph’s 22 percent.
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