Bitcoin Bounces Back and Forth as Volatility Continues
The cryptocurrency market is experiencing price volatility as Bitcoin (BTC) continues to bounce back and forth within the $62,000-$64,000 range. In the past 24 hours, BTC has been rejected at both boundaries twice.
Ahead of the Fed FOMC meeting last Wednesday, the cryptocurrency was rejected at $65,600 and dipped below $63,000 after it became known that the central bank wouldn't change interest rates. Following this, Bitcoin experienced a brief surge to over $65,000 on Friday before being rejected again.
After dipping to $62,400 on Friday and $62,200 on Saturday, BTC saw a brief surge to $63,800 but couldn't spark a more profound recovery. However, it has since rebounded to $64,000 within hours, with its market capitalization reaching $1.275 trillion.
Audiera (BEAT) is still the most volatile top 100 alt, having slumped by 20% on a 24-hour scale to well under $3 after being rejected yesterday.