Why are Crypto Prices Are Pumping Today? 5 Best Crypto To Buy Now – 26 April
The cryptocurrency market is experiencing a day of mixed fortunes as an initial rally was followed by a downturn, negating gains from the day's earlier upswing.
As of writing, both Bitcoin and Ethereum are experiencing declines, with Bitcoin trading just above the significant $28,000 level at $28,569, reflecting a modest gain of 0.71% for the day, while Ethereum has seen a decrease of 0.36%, sitting at $1,869 as of writing.
How will this recent increase in the cryptocurrency market's volatility impact the selection of the best cryptos to buy now?
During the course of the day, Bitcoin experienced a notable surge, ascending by nearly 8% and momentarily surpassing the $30,000 mark.
This upward trajectory also had a positive impact on Ether, which rose by over 6% at its peak, reaching a value of approximately $1,950.
In the preceding days, Bitcoin's trading activity had remained relatively stable, with fluctuations returning to levels observed in early March, prior to the onset of a banking crisis that served as a key driving force behind the digital currency's growth this year.
Late on Tuesday, challenges faced by the First Republic became a contributing factor to Bitcoin's price movements, as explained by Matt Hougan, the chief investment officer at Bitwise Asset Management.
"Digital currencies tend to thrive during banking crises, and it appears that the banking crisis may still be ongoing," Hougan stated.
Shares of First Republic experienced a sharp decline of nearly 30% on Wednesday, culminating in a two-day loss of around 80%, following the bank's announcement of a substantial decrease in first-quarter deposits as clients withdrew funds in the wake of Silicon Valley Bank's collapse.
In March, Bitcoin experienced a 22% surge as
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