This weekend’s crypto market rebound got another jolt on Saturday as Bitcoin (BTC) blasted off to highs last seen in August 2022, with altcoins such as Aptos, Optimism, and Decentraland’s MANA also posting sizable gains.
Bitcoin rose as high as $23,375 on Saturday, per Trading View data, and at a current price of $22,948, it has increased nearly 9% over the past 24 hours. The last time that Bitcoin rose near current levels was in August 2022, well before November’s implosion of crypto exchange FTX sent the price of the biggest cryptocurrency in market valuation down below the $16,000 mark.
Saturday’s continued rally pushes Bitcoin’s seven-day gains to 20%, with a 34% jump recorded over the last 30 days. Bitcoin is nearly 68% below its all-time high price of over $69,000 reached in November 2021, but the recent gains show a recovery in the crypto market after a bearish 2022.
Overall, the cryptocurrency market valuation has seen a 6.76% growth over the past 24 hours, with cryptocurrencies like Solana (SOL, 18.40%), Tezos (XTZ, 13.04%), Ravencoin (RVN, 10.01%), and a handful of other altcoins posting significant gains.
Aptos (APT) however, is skyrocketing compared to most of the rest of the crypto market on Saturday as it is up a whopping 60% to trade at $12.52 at press time.
JPMorgan Chase CEO Jamie Dimon calls bitcoin “a hyped-up fraud.” The executive queried the cryptocurrency’s fixed supply cap, saying that he was expecting an image of bitcoin’s pseudonymous creator Satoshi Nakamoto to pop up and laugh when bitcoin’s supply hits 21 million coins.
The CEO of global investment bank JPMorgan Chase, Jamie Dimon, who has always been vocal in his criticism of bitcoin cryptocurrency and not the blockchain reiterated his skepticism about bitcoin in an interview with CNBC Thursday by saying ‘’Bitcoin itself is a hyped-up fraud. It’s a pet rock’’.
While he is positive about blockchain technology, the JPMorgan boss casts a negative light on cryptocurrencies: “Crypto itself doesn’t do anything. It’s a pet rock.” He then told the news outlet: “I don’t care about bitcoin so we should drop this subject.” He said.
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