CNBC said on the morning of the 30th, Beijing time, that Bitcoin has experienced a roller coaster ride in the past 24 hours. After breaking through the $10,000 mark for the first time, it broke through $11,000 within a few hours, once rising to a record high of $11,388.33.

2024/05/2500:01:33 hotcomm 1534

On the morning of the 30th, Beijing time, CNBC said that Bitcoin has experienced a roller coaster market in the past 24 hours. Within a few hours after breaking through the US$10,000 mark for the first time, it exceeded US$11,000 and once rose to a historical high of US$11,388.33.

CNBC said on the morning of the 30th, Beijing time, that Bitcoin has experienced a roller coaster ride in the past 24 hours. After breaking through the $10,000 mark for the first time, it broke through $11,000 within a few hours, once rising to a record high of $11,388.33. - DayDayNews

We are witnessing Crazy Bitcoin buying frenzy.

At 10 pm Beijing time on Wednesday, quotes from multiple Bitcoin platforms showed that Bitcoin exceeded the 11,000 mark against the US dollar. However, it fell by another $2,000 in the next five hours.

CNBC said on the morning of the 30th, Beijing time, that Bitcoin has experienced a roller coaster ride in the past 24 hours. After breaking through the $10,000 mark for the first time, it broke through $11,000 within a few hours, once rising to a record high of $11,388.33. - DayDayNews

Bitcoin Price Trend

Financial institutions are wary of the value of Bitcoin itself. The most famous critic is Dimon, CEO of JP Morgan Chase, the largest bank in the United States, who believes that Bitcoin is a scam, and Fink, CEO of BlackRock, the world's largest asset management company, who believes that it is a money laundering index. Currie, head of commodity research at Goldman Sachs , said on Wednesday that Bitcoin is not a currency, but a commodity similar to gold, but the endogenous value of gold is significantly better than Bitcoin.

CoinMarketCap data shows that Bitcoin trading volume reached an eye-popping US$9.75 billion in the past 24 hours, and trading volume of Ethereum , the second largest cryptocurrency after Bitcoin, reached US$2.26 billion.

Due to the huge trading volume, the computer systems of the two largest cryptocurrency exchanges in the United States - Coinbase and Gemini crashed on Wednesday morning local time, but they have now returned to normal.

MKM Partners chief market technology officer Jonathan Krinsky said: "I think today's move marks some kind of turning point. But currently Bitcoin price is still 200% above the 200-day moving average, so in It wouldn’t be surprising to see some consolidation here.”

Other major cryptocurrencies were also down across the board on Wednesday afternoon, with Ethereum down nearly 14% from its all-time high earlier in the day to around $448. Bitcoin Cash fell about 5% on the day to around $1,466.

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