Bitcoin Jumps Above $40,000 For the First Time in 2 Weeks

• Bitcoin reached a two-week high above $40,000 on Friday afternoon, recovering losses from the past week

• The price of the flagship cryptocurrency has gone up by over 9% in the past 24 hours, breaking about the psychological barrier

• The largest cryptocurrency remains some way off its all-time high of $40,000 which was attained in December last year

Bitcoin added its highest single-day gain in more than 3 months as the flagship cryptocurrency broke above $40,000 on Friday afternoon.

The world’s largest cryptocurrency by market cap jumped by over 9% to $40,426. Its most since October 15th.

This marks the first time that BTC will break the $40,000 psychological barrier in the past two weeks.

The largest cryptocurrency remains well off its all-time high of around $69,000 attained in December.

The world’s second-largest crypto Ether also went up by more than 11% as it nears the $3,000 zone.

Even SOL, the native currency of the Solana blockchain that plummeted following news of the Wormhole project hack, added 10% to its value.

This is the first major movement in the cryptocurrency market after weeks of back and forth movement since Bitcoin crashed below $34,000.

Read also: Facebook Closes Diem Crypto Project and Sells

The rise has been attributed to more confidence from traders in the market after the market stabilized in the past week.

At the time of this report, the global cryptocurrency market cap is at $1.68T, down 1.1% in the past 24 hours.

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