MEXCCan Bitcoin Price Mirror Nvidia Rally?
Bitcoin News: Debt ceiling talks between the White House and Congressional Republicans representatives move ahead investors stand confused as the deadline approaches. The global digital market printed some green indexes on Thursday after a sell off on the prior day. However, NVIDIA Corp (NASDAQ: NVDA) registered a major surge of 27% leaving Wall Street with hopes.
Also Read: NVIDIA Near To Break Into $1 Trillion Club; Will Other AI Stock Rally?
Bitcoin Price Ready To Move Upward?
Bitcoin (BTC), the world’s largest cryptocurrency is trading under selling pressure as its price dropped below the crucial $27K on Wednesday. However, BTC price registered a marginal surge in the last 24 hours. Bitcoin is trading at an average price of $26,272, at the press time.
According to an expert, Bitcoin price is expected to mirror the massive surge registered by NVIDIA in the last 24 hours. He mentioned that the Bitcoin price is forming an Inverse Head and Shoulders pattern on the chart similar to NVIDIA.
He highlighted that BTC is in the middle of creating an iHS Structure which matches the NVIDIA price chart before it registered a whooping rally. Nvidia share price jumped by 27% on Thursday leading the chip maker firm’s market valuation to approach the $1 trillion club. Read More Bitcoin News Here…
Reports suggest that Nvidia added almost $200 billion to its valuation after the release of its quarterly report. Chip maker’s market cap stands at around $951 billion. While its share is trading at an average of price of $383.76, at the press time.
Meanwhile, Bitcoin price haven’t registered much gains over the last 30 days. BTC price dropped by almost 5% during the period. Bitcoin market cap which stood at around $580 billion on April 26, 2023, has declined to stand at around $508 billion. However, its 24 hour trading volume is also down by 8% to stand at $14.09 billion.
- FOMC Meeting: Federal Reserve Lowers Interest Rates by 25 Bps in Second Cut of the Year
- WLF Token Jumps 7% as Former Robinhood Counsel Joins Trump-Backed World Liberty Financial
- Changpeng Zhao “CZ” Warns Investors “Don’t Buy” Golden Statue Meme Coin After 27,000% Surge
- Markets Expect October Fed Rate Cut as Bitcoin Repeats Post-FOMC Pattern
- Trump Tariff: China Resumes U.S. Imports After Agreement With South Korea
- Ethereum Price Flips BTC in Strategy Shift, Eyes $4500 Level
- Expert Predicts XRP Price to Hit $10 as Elliot Wave, XRPR ETF Inflows Align
- HYPE Price Prediction as 21Shares Files S-1 for Hyperliquid ETF—Can Bulls Push HYPE to $60?
- Bitcoin Price Rally Bound? How the Fed’s Move May Unleash Crypto
- Can ASTER Price Rebound 50% as Whale Activity and Bullish Pattern Align?
- Pi Network Patterns Point to More Gains Despite Manipulation Claims
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
