BTC & ETH shoot up in late day pump
Well, what were you expecting? It could not stay still for too long could it? The crypto community had been debating as to when the horizontal line on the trading graph would see an upwards or downwards movement. Sure, there were times when the values changed and 1% positives or negatives were seen as the result but this was not news, it was predictable. HODLers and enthusiasts alike were all waiting for the next jump with the bulls working tirelessly to make sure their crypto did not fall of the track completely. There were false alarms in the month of July for sure. Few altcoins went up but only by a bit, that wasn’t it. Then Bitcoin went up slightly but did not cause a stir. BTC & some altcoins increased again but fell down soon after and people began to wonder, will BTC ever cross the $10,000 mark ever again?
Bitcoiners will tell you that the value will increase sooner or later. Day traders will not wait that long but HODLers have bet their life long savings on this. It might pay off and it might not but what happened yesterday night on 22nd July gave that group of people hope. In what was about one hour of frantic pumping, the graphs were up. Biggest change was for Ethereum. The second most popular crypto that rose from $245 to $269. That is an increase of nearly 10%. But that was not the only thing. BTC soon followed with its own price increase from $9,377 to $9,516. A positive change of 1.5%. And then it looked like every major cryptocurrency on the market cap was going up. TRON, BCH, XRP and more. It was happening and people were elated. Those that had not held on for long, quite not so much but those long-term holders who wished for BTC to break that $9,500 resistance finally saw it. Ethereum also saw its price hit a record high since February. Those still active late into the weekday nights flooded Crypto Twitter and Reddit with the news as bit by bit, both were going up. This was the first time since the pandemic in march that the cryptocurrency market had performed this well. Could this be the sign that things were finally back to normal? Even though the pump has stopped now, almost every top crypto is in the green and that is saying something. The first rule of crypto is proving right again. If BTC increases, the others will follow in suit.
As mentioned before, this last month saw a stability for Bitcoin not seen since 2018 and many in the crypto community wondering if this was the peak of its abilities. Even the CEO of Binance “CZ Binance” stated that some people had started to call BTC a stable coin because of its form. With BTC finally crossing its resistance of $9,500 and Ethereum expecting a new update very soon, we can definitely be sure that the nearby future of the top two cryptocurrencies are as good as gold or maybe even better. At the time of writing, BTC is at $9,493 whereas ETH is at $263. What are your thoughts on this topic? Will both cryptos rise even more? Will we see every crypto fall again? Which other crypto will get the next jump? Is this all just temporary? Share your opinions with us in the comments below or send us your thoughts on our socials and we will definitely feature you on our platform!