ICP's Bumpy Ride: Can Internet Computer Keep Up with Bitcoin?

Bitcoin's price surge of 4.3% in the past 24 hours has seen it briefly climb above $82.2k, only to slip back towards $80k at the time of writing. This increase is largely attributed to Federal Reserve Governor Christopher Waller's comments on keeping interest rates steady at the central bank's September meeting.

Internet Computer (ICP) also saw a price rise of 2.5%, following the market-wide bounce, and has made gains of 27.7% in just over a month from its low of $1.99 made on August 1st. However, despite this increase, ICP remains down 99.6% from its all-time high of $700 reached in May 2021.

A Taurex report has highlighted that ICP is the weakest among 60 cryptos in terms of price performance. SkyV, a crypto influencer, observed that ICP had consolidated around the $2 region for months before breaking out and potentially opening a path towards $7.20.