Cryptocurrency markets have experienced almost explosive growth.
The price of bitcoin (BTC) rose sharply to more than $ 1,000 in just 30 minutes and a short period of time was trading above 8000 USD. Other cryptocurrencies have also demonstrated growth today.
The growth rates are difficult to associate with any event, however, some Twitter users have suggested that this is due to the fact that bitcoin has been declared the relevant laws of Shariah:
Positive FudAdditional 1.8 billion people will now be able to buy #bitcoin #bitcoin is declared halal and holy for Islamic Community. Expect a bounce as soon as Saudi Arabia, Qatar & Abudhabi Sovereign Funds enters Crypto Markets https://t.co/ZKcdBCkkZ7— Trading Room (@tradingroomapp) April 12, 2018
Currently, BTC is trading at $ 7,655, and growth over the past day amounted to about 11%.
One of the most famous cryptocurrency traders WhalePanda called this surge “bear trap”:
Nice move by #Bitcoin. Got to love that bear trap. pic.twitter.com/9SrHfJuFvO— WhalePanda (@WhalePanda) April 12, 2018
Ethereum (ETH) has also grown considerably today, and reached 462 USD. In the last month, the price of the cryptocurrency the number two was around $ 400, and the growth in the last 24 hours was about 11%.
Total market cap also exceeded $ 300 billion for the first time this month, a little down to 297 billion at the time of publication of the article.
Of the top ten coins on CoinMarketCap, the EOS remains a leader and showcases a stunning increase of over 30 percent in the last 24 hours. At the moment, this cryptocurrency is trading at the level of 8.90 USD. Many associate this growth with the release of EOSIS pre-release version of Dawn platform 3.0, which occurred on 9 April.
Some of the top ten altcoins also has high rates of growth, and 9 of 10 (including BTC) exhibit more than 10 percent growth in the last 24 hours. Cardano increased by 22 percent, IOTA – 14 percent and NEO grew by almost 13 percent.