After hitting a year low of $3,625 early Sunday morning, Bitcoin (BTC) just posted its best 24-hour performance in months, rising over 15% to just north of $4,375 and on pace to beat 2018’s highest one-day return of 13.43% from April 12.
While Bitcoin suffered from choppy trading through the first part of the week, buyers have seemingly returned to the market to push BTC through the $4,000 level to test $4,300, where it traded at earlier last week.
The larger cryptocurrency market has followed Bitcoin with many altcoins posting major double-digit gains. The AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies, is now up 12% on the day, led by FunFair (FUN), Verge (XVG) and Bitcoin Private (BTCP), which are all up over 30%.
Similarly, equity markets had a strong day Wednesday, with the S&P 500 finishing the day up 2.3% and the Dow up 600 points (2.5%) to 25,366.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.