Bitcoin Jumps Over $58,000 as Polkadot Adds 20%

• The cryptocurrency market cap is up by more than 100 million today after impressive gains made by Bitcoin and other cryptocurrencies

• Following a price drop below $53,000 on Wednesday, BTC has recovered strongly to reach $58,500

• The flagship cryptocurrency also triggered impressive gains among other assets such as Polkadot and Ethereum.

Flagship crypto-asset Bitcoin has continued its October bull run as it edges closer to its all-time high of $64,0000.

The world’s number one crypto by market cap reached $58,500 on Thursday morning, rallying from around $54,000 on Wednesday.

Bitcoin is currently at its highest point since mid-May when the market came crashing down.

The alternative coin market retraced greatly yesterday, with most assets showing negative gains.

That has however changed in the past 24 hours as Ethereum led a rally back.

Ether has added 5.5% in the last 24 hours pushing beyond $3,650 after falling below $3,500 on Wednesday afternoon.

Among the best performers, Polkadot has gone up by more than 20% in the last 24 hours after news emerged that its parachains will be ready to be launched in a month.

Binance Coin also continued its impressive movement this week, as the token added 3.5% to reach $480.

Other gainers among the top altcoins are Cardano, Ripple, Solana, Dogecoin, Terra, Uniswap, and Avalanche.

At the time of this report, the entire crypto market has a value of $2.38 trillion.

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