Bitcoin Surges by More Than 37% Against US Dollar This Week, Taps $28K on Sunday

Bitcoin reached a precocious of $28,422 per portion connected Sunday astatine astir 3 p.m. Eastern Time arsenic the starring cryptocurrency has continued to emergence during the past week. Since past Sunday, bitcoin has accrued successful worth by 37.9% against the U.S. dollar, and the cryptocurrency’s wide marketplace capitalization has swelled to $546 billion.

Global Cryptocurrency Market Valuation Increases by 1.11% to $1.18 Trillion; Bitcoin Dominance Remains Above 45%

At conscionable earlier 3 p.m. ET connected March 19, 2023, bitcoin (BTC) surpassed the $28,000 zone, rising to $28,422 per portion connected Sunday afternoon. Presently, the starring cryptocurrency’s worth is hovering wrong that region, astatine conscionable supra $28,300 aft meandering conscionable beneath it astatine $27,925 per unit. Bitcoin has gained much than 37% against the U.S. dollar successful 7 days, and implicit the past 24 hours, it has accrued astir 3.5% higher.

Currently, determination are $42.9 cardinal successful planetary bitcoin trades retired of the $203 cardinal successful commercialized measurement among each integer assets successful existence. While bitcoin reached a precocious of $28,422 connected Sunday, it besides saw a debased of $27,009 per portion during the people of the day. Bitcoin has $23.94 cardinal near to surpass Tesla’s marketplace capitalization of $569.94 billion to go the tenth-largest plus by marketplace valuation.

The planetary cryptocurrency marketplace valuation was $1.18 trillion connected Sunday, a 1.11% summation implicit the past day. The past clip bitcoin was trading supra the $28,000 portion was successful June 2022, pursuing the collapse of the Terra blockchain and UST. Current statistic besides amusement that the second-largest cryptocurrency by marketplace cap, ethereum (ETH), jumped 1.7% higher implicit the past time and 24.3% implicit the past week.

Out of the $1.18 trillion successful value, bitcoin’s dominance connected Sunday is 45.7%, portion ethereum’s is 18.8%. Bitcoin’s apical 10 trading pairs connected Sunday see Tether (USDT), BUSD, USD, KRW, EUR, JPY, USDC, TRY, GBP, and CHF. In summation to bitcoin surpassing the $28,000 zone, determination is besides a tiny ‘Kimchi premium’ successful South Korea, with bitcoin trading for $200 much per unit successful the state than astir crypto exchanges abroad.

What are your thoughts connected bitcoin’s caller terms surge and its imaginable interaction connected the wide cryptocurrency market? Share your opinions successful the comments conception below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This nonfiction is for informational purposes only. It is not a nonstop connection oregon solicitation of an connection to bargain oregon sell, oregon a proposal oregon endorsement of immoderate products, services, oregon companies. Bitcoin.com does not supply investment, tax, legal, oregon accounting advice. Neither the institution nor the writer is responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful this article.