Dogecoin Rises 6.5%, Bitcoin Battles for $19K

After the recent volatility and recent multi-month low, bitcoin has calmed down a bit around $19,000.

Most alts have been painting negligible losses today, while Dogecoin has emerged as the best performer from the majors.

Bitcoin Battles for $19K

The past few days have been quite volatile for BTC, starting with a decline to $18,300 on September 19. At the time, it marked a three-month low for the asset.

Bitcoin went on the offensive in the following hours and even approached $20,000 two days later. However, this was just before the US Federal Reserve’s meeting where Jerome Powell announced an interest rate increase of 75 basis points.

As with previous examples, this sent BTC straight south. Within hours, the cryptocurrency fell by almost $2,000 to another new three-month low of $18,100.

Despite this huge drop, bitcoin reacted fairly immediately and bounced back to $19,000. In the last day, the asset tried to regain some more of its recently lost value, but was stalled and is now battling for $19,000.

Its market cap still struggles at $365 billion, but its dominance over the alts has taken a hit and is below 39% now.

Dogecoin Jumps 6%

The altcoins were also quite volatile in the last week. Ripple was the undisputed leader in terms of gains, having surged 60% weekly, perhaps due to whales accumulating and developments surrounding the lawsuit against the SEC. Now, however, XRP has retreated by over 8% in a day and is currently right at $0.5.

Ethereum remains above $1,300, despite a minor daily decline. Cardano, Polkadot and Tron are also slightly in the red from the top 10.

Binance Coin, Solana, Shiba Inu and MATIC, on the other hand, have painted smaller increases. Dogecoin stands out as the biggest gainer today from the larger values, with a 6.3% increase pushing it above $0.065.

LINK and QNT have also added impressive percentages from the midcap alts. Overall, the cumulative market capitalization of all crypto assets is a quiet $940 billion.