Home / Cryptocurrency / The price of the bitcoin jumps higher when Dow, S & P 500 cancels the initial gains

The price of the bitcoin jumps higher when Dow, S & P 500 cancels the initial gains

bitcoin price gun bang s & p 500 dow jones

The bitcoin price and the wider cryptocurrency market jumped feverishly to their last highs on Friday, shaking off the substantial sell-off on Thursday, while the Dow Jones Industrial Average, S & P 500 and other US market indices returned to decline.

Bitcoin Price makes another run for $ 4,000

Bitcoin was languishing near the $ 3600 level for most of the day after plunging up to $ 3,567 last night. However, a few minutes ago, the price of the bitcoin increased by over $ 200, bringing it from 3,634 to $ 3,861 in a matter of seconds.

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BTC / USD | Bitstamp

Other large-capital cryptocurrencies have made similar steps, bringing the price of the ripple (XRP) to $ 0.365 and the price of the ether to $ 127. At the time of writing, the aggregate capitalization of the crypto market reached a worth $ 128.4 billion, marking an intraday increase of over $ 8 billion, or 6.7%.

The factors behind the rally were not immediately clear, even if today is an expiration date of the CMO bitcoin futures and the volatility often accompanies the maturity of the encrypted futures contracts.

Dow, S & P 500 Clear pre-market gains

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Bitcoin price (blue) vs. Dow Jones Industrial Average (orange) and S & P 500 (red)

In particular, while the cryptography market is not directly related to traditional actions, the transfer of the bitcoin to the north occurred in parallel with a downturn in the stock market.

Both Dow and S & P 500 recorded a noticeable decline in the hours following Friday's opening bell, canceling pre-market gains that had suggested that the shares would end the week on a high note. At the time of writing, the Dow was down 85 points, or 0.37%, and the S & P 500 index was down 0.28% while the Nasdaq recorded a decline of 0.42% %.

Click here for a bitcoin price chart in real time. Stay tuned for further coverage and analysis of today's crypto market rally.

Shutterstock foreground image. Price charts from TradingView.

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