Bitcoin, the world’s most traded cryptocurrency, was trading more than 1% higher today.
The price of bitcoin had risen to $47,199 on Coinmarketcap. The cryptocurrency’s market capitalization increased to $891.66 billion. Since the beginning of the year, Bitcoin has increased by more than 58.59 percent.
Today, other cryptocurrencies were also trading in the green. Ethereum increased by 2.25 percent to $3,2827, while Dogecoin increased by 12.14 percent to $0.2993. Bitcoin rose 7.07 percent to $47,587.38 at 2200 GMT on Friday, up to $3,142.93 from the previous close.
Bitcoin, the world’s largest and most well-known cryptocurrency, is up 71.6 percent from its low of $27,734 on January 4 this year.
Ether, the cryptocurrency linked to the Ethereum blockchain network, increased 7.86 percent to $3,284.18 on Friday, gaining $243.55 from its previous close. Stellar, a digital token, increased by 8.70 percent to $0.3476, while XRP increased by 18.34 percent to $1.03.
Litecoin increased 6.24 percent to $175.47, while Uniswap increased 0.60 percent to $29.58.
According to Forsige, Dogecoin could see its biggest jump anytime soon and could reach $2 in a short period of time. Cryptocurrency prices have risen in response to comments from billionaire Elon Musk and Cathie Wood of Ark Investment Management LLC.
Elon Musk had said in late July that Tesla would “most likely” resume accepting bitcoin as payment. The comment added the cryptocurrency’s ascension past the $30,000 mark. The electric vehicle manufacturer announced in May that it would no longer accept cryptocurrency for payment.