Bitcoin's Up and Down Day: $21,000 Highs and Q2 2018 Losses

2018-07-04 Bitcoin saw highs and lows over the course of the previous day, it being valued as high as just over $21,000. Nevertheless, Q2 2018 concluded with losses for this coin.

Bitcoin's price rose to a multi-day high of almost $21,000 but fell just as quickly, ending the volatile Q2 below $20,000. The altcoins also experienced volatility but some are doing well now, including BNB, MATIC and The Sandbox.

Bitcoin's Rollercoaster  

Last weekend, when the primary cryptocurrency neared $22,000, it stood at a 10-day high. As the community was expecting another jump to higher ground, the landscape changed and BTC started to lose value gradually.

As a result, it fell to around $20,000, where it stayed for a few days. However, in the end, it dropped to $19,000.

Bitcoin's price fell to a new low of $18,500 yesterday. But when the horrible second quarter was almost over, the cryptocurrency went on a tear and jumped by more than $2,000 in minutes. It reached its peak at $21,000.

BTC's price, however, quickly fell back below the $20,000 mark. As a result of this, its market cap is around $375 billion and its share of the market is 42.5%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Bitcoin News that's worth reading

El Salvador, the first country to legalize bitcoin within its borders, bought the dip by purchasing another set of 80 coins.

At the moment, not just MicroStrategy and El Salvador are accumulating but also retail investors have been buying BTC.

In July, Europe will see the launch of its first Bitcoin ETF, as the application by Jacobi Asset Management was approved.

Binance Coin, Matic Network, and SAND experienced significant growth

The majority of altcoins experienced similar volatility in the past 24 hours, but the overall landscape is slightly more positive than it was on Wednesday and Thursday.

Ethereum has stayed above $1,000 after getting close to falling below that level multiple times in the past few days. As of now, the second-biggest crypto is close to $1,100.

Cardano, Ripple, Polkadot, and LEO have similar gains. The biggest increases come from Solana, Dogecoin, Tron and Shiba Inu.

BNB has been the best performer among the larger-cap altcoins. The asset has gained over 7% in a day and is currently trading above $220.

The altcoins with the highest market capitalization that have gained the most in the past 24 hours are MATIC, Stellar, Algorand, and The Sandbox. SAND has increased by more than 16% in a day and is trading at $1,15.

Cryptocurrency Market Overview. Source: Quantify Crypto
In this article, we look at the current state of the cryptocurrency market.

The following are the latest cryptocurrency and industry news:

The CEO of CoinFLEX reversed the company's decision on whether to resume withdrawals as of June 30 and pushed it to an unspecified date.

MAS said that 3AC had supplied false information and exceeded the AUM threshold.

There were reports that FTX was close to purchasing BlockFi for $25 million, but the latter's CEO denied the information.