Bitcoin Price Shot Up to $44K While Altcoins Explode by Double Digits
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Bitcoin Price Shot Up to $44K While Altcoins Explode by Double Digits

Bitcoin went on another run-up that resulted in jumping to just above $44,000 for the first time since the beginning of May 2022. The altcoins have also turned green, with massive gains from the likes of SOL, AVAX, DOGE, SHIB, and many others.

BTC to $44K

December has been a month to remember so far for the primary cryptocurrency. On Friday – December 1 – the asset stood at $37,500, but it started to gain value by the end of the day and on Saturday.

While Sunday was a little less volatile, Monday morning brought more gains, and bitcoin jumped to above $40,000 for the first time in 19 months. 

The landscape kept getting better and better, and BTC soared past $42,000 by Tuesday.

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The bears were nowhere to be found at this point, and bitcoin used the opportunity to initiate another leg-up that resulted in jumping to over $44,000. 

More specifically, the asset went as high as $44,400 on Bitstamp, which is a new 19-month peak.

As of now, the cryptocurrency trades inches below $44,000. Nevertheless, its market capitalization has skyrocketed above $850 billion, while its dominance over the alts is all the way up to 53.6%.

Bitcoin trade currently at about $43,990 at press time.

Bitcoin Price Chart | Source: Coinstats


Alts See Nothing But Green

The fact that BTC’s dominance has been steadily on the rise in the past week or so doesn’t mean that the alts have not produced any substantial gains. 

The past 24 hours are a clear example of this, as almost all alternative coins are well in the green.

Ethereum has neared $2,300 and a 3.3% daily increase. Similar gains are evident from the likes of Ripple, Chainlink, Litecoin, and Polygon.

More increases come from Solana, Cardano, Dogecoin, Avalanche, and Shiba Inu. In the case of DOGE, SHIB, and AVAX, the pumps are between 11% and 18%.

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Avalanche’s native token has skyrocketed by nearly 20% in a day.

The most significant daily increases come from Helium (56%), Beam (25%), Casper (24%), and Celestia (21%).

Crypto market

The total crypto market cap has exploded by $60 billion overnight and is up to $1.6 trillion on CMC.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.