The year began with BTC climbing the charts and topping the $105,000 mark. However, that wave was short-lived, and soon the token crashed miserably. At one point, people feared the token might fall below the $70,000 mark. As a result, many investors were thinking about cutting their losses.
However, soon the token showed positive traction, and it managed to break the $95,000 mark. In the wee hours of Thursday, the token saw a considerable growth of 2.59%. As a result, the price landed at $99,025. This positive spike mainly came after the US President announced a renewed trade deal.
The deal rumors have gained some positive traction in the whole crypto ecosystem, including ETH. The token saw a moderate jump of 3.56%. Meanwhile, XRP and SOL rose by 1.71% and 3.27%, respectively.
BTC On A Roll!
At press time, BTC is close to $99,025.59, with an overall market cap of $1.97 trillion. Meanwhile, its 24-hour trading volume was $48.34 billion, 2.59% higher than it was. The positive traction has started convincing people that the token might be the next big thing in the ecosystem.
As a result, more and more investors are gradually gravitating towards it. Here is what Avinash Shekhar, CEO and co-founder of Pi42, has to say about the growing popularity of BTC: “Bitcoin’s sharp rebound and the resurgence in altcoins reflect the market’s sensitivity to macroeconomic shifts, particularly positive sentiment around the US-China trade talks.”
He added, “As regulatory developments and global economic cues continue to unfold, we expect heightened volatility but with a bullish undertone in the near term.” Overall, it is safe to say that the market and the industry experts are showing some positive traction regarding the token.
