Bitcoin's Price Jumps to $21,500 After US Job Report

Bitcoin's price rose to $21,500 after the release of the US job report.

Bitcoin is on the rise again, reaching a new two-month high in the past 24 hours. This latest surge is just another example of the digital currency's potential and its growing popularity.

It's been a good 24 hours for cryptocurrency investors, with several altcoins posting impressive gains. MATIC, in particular, has surged to $1.2, while other coins like Ethereum and Bitcoin Cash have also seen significant increases.

Bitcoin's price reaches new local peak

It's been a rollercoaster month for the cryptocurrency market, with Bitcoin (BTC) experiencing enhanced volatility due to events in the United States. As CryptoPotato warned, the Federal Reserve hiked the interest rate by 75 basis points, which sent BTC south from $20,800 to $20,000. However, BTC has since recovered and is currently trading above $21,000. It remains to be seen how the market will react to further developments in the US, but for now, it seems that Bitcoin is back on track.

It is clear that the bulls are still in control of the market, as they were able to defend the $20,000 level. This shows that there is still strong interest in bitcoin, and that the market is still bullish on the digital currency. With the release of the US job report, bitcoin started to gain value, and it came close to $21,000.

It's great to see Bitcoin bouncing back and breaking through the $20,000 barrier! Hopefully this momentum will continue and we'll see even higher prices in the near future.

It is clear that Bitcoin is still the king of cryptocurrencies, despite a few hiccups along the way. Its market cap is still well above $400 billion, and its dominance over the altcoins is still at 38.5%. This shows that Bitcoin is still the go-to currency for many investors and users alike.

BTCUSD. Source: TradingView
The BTCUSD market is one of the most exciting and volatile markets in the cryptocurrency space.

MATIC Soars Yet Again

Ethereum's recent price hike is just the latest development in the world of cryptocurrency. With major coins like Bitcoin and Ethereum leading the way, it's no wonder that investors are turning to this exciting new market. With its potential for high returns and its decentralized nature, cryptocurrency is definitely an investment worth considering.

It's been a good 10 days for Dogecoin, Solana, and Polygon, with all three coins surging by more than 5%. DOGE has been the best performer of the bunch, thanks in part to Elon Musk's recent Twitter antics. The billionaire fired almost half of the social media platform's staff yesterday, but that doesn't seem to have stopped DOGE from climbing higher.

Looking at the current state of the crypto market, it is clear that there are still plenty of opportunities for investors to make a profit. Two of the most notable gainers in recent days have been Solana and MATIC.

I am bullish on altcoins and believe that most of them are currently undervalued. I think that the cumulative market cap for all altcoins will continue to increase as more people learn about and invest in them. I believe that the current market cap of $1.060 billion is just the beginning and that we will see much higher values in the future.

Cryptocurrency Market Overview. Source: Quantify Crypto
It's been a volatile few months for cryptocurrency investors, with prices see-sawing as governments and financial institutions grapple with how to regulate the burgeoning industry.

The post Bitcoin Closes Highest Daily Candle Since September 12th (Market Watch) appeared first on CryptoPotato. This is good news for Bitcoin, as it indicates that the cryptocurrency is regaining some of the momentum it has lost over the past few months.