With a surge of 8.8 percent on early Thursday, Bitcoin's
trading value sits, at the time of writing, at
$57,600 . While market
sentiments have been positive through the week, news of billionaire investor
George Soros' firm owning Bitcoin has added more wind under the crypto-coin's
sails.
While the second most-valued cryptocurrency's price
trajectory hasn't been as smooth as Bitcoins, the coin did see a jump of 3.59
percent at $3710. With a surge rate of close to 19 percent over the past week,
Ether investors have enjoyed a good week in the green thus far after a
turbulent end to September.
Dogecoin, meanwhile, lost a bit of its early-week steam,
dropping by 3.43 percent to trade at $0.25. The memecoin began the week with
gains in double digits on Tuesday and a strong showing on Wednesday too, but
with rivals SHIB stealing the spotlight for now, enthusiasm from investors have
seen a dip. On the flipside, SHIB investors were over the moon with values up
by 41.87% on Thursday morning, in what's been a stellar day for Shiba Inu
followers.
"The past 24 hours were yet another wonderful session
for the cryptocurrency market. Both the largest cryptocurrencies broke past
multiple resistance levels. BTC inched closer to the $55,000 mark.
The coming 24 hours would likely be a period of
consolidation as there could likely be some profit booking across the
spectrum," Edul Patel, CEO and Co-founder of Global Crypto Investment
Platform - Mudrex, told Gadgets 360.
Post the pressure on digital tokens after China's blanket
ban on cryptocurrency transactions and El Salvador's turbulent rollout of
crypto-coins as legal tender, this week has seen Bitcoin bounce strongly,
buoyed by a surge in institutional investors.
For altcoins, there's good news brewing with US-based movie
theatre chain AMC Theatres officially allowing payments in popular meme-based
cryptocurrency, Dogecoin. AMC now allows customers to purchase movie tickets
through several cryptocurrencies including Bitcoin Cash, Ethereum, and
Litecoin, and now, Dogecoin.
A parliamentarian in Tonga has also made the news for trying
to convince the government to adopt Bitcoin as a legal tender in the country.
Stating that the island nation loses a large chunk of money in fees for
remittance platforms, a problem that could be eliminated by the introduction of
crypto-trading.