Crypto Markets Continue Bullish Momentum, Bitcoin Cash Spikes 44%

Investing, News | April 3, 2019 By:

The cryptocurrency markets have remained bullish today, adding $11 billion to the total value of all cryptocurrencies – from $161 billion to $172 billion. The overall crypto market registered a record-breaking $78 billion 24-hour trading volume.

The price of bitcoin is holding its gains following a rally during yesterday’s sessions. In early trading, bitcoin was up 4.92% at around $4,970. The most popular coin surged as much as 20 percent in the past two days in Asian trading, breaking above the $5,000 level for the first time this year.

Some industry analysts claimed that the bitcoin pump was triggered by an order worth about $100 million.

“There has been a single order that has been algorithmically-managed across these three venues [Coinbase, Bitstamp, and Kraken], of around 20,000 BTC,” Oliver von Landsberg, CEO of crypto firm BCB Group, told CNBC. “If you look at the volumes on each of those three exchanges – there were in-concert, synchronized, units of volume of around 7,000 BTC in an hour.”

The biggest gainer on the day is Bitcoin Cash, with a whopping 44.36% price increase in the past 24 hours. It was followed by Litecoin, Cardano and EOS, which are up 21.94%, 14.67% and 13.24%, respectively.