Bitcoin\'s value has increased by 7 percent today, trading at just under $16,000. This marks a total increase of 10 percent within the past 24 hours. Data analysis suggests that bitcoin could soon be trading at between $18,000 and $18,600, most likely reaching these figures within the next 2 days.
\r\nAltcoins are not faring so well. Ripple\'s token, XRP, which experienced significant growth within the past few days, is now down by 9 percent since January 4. In addition, Stellar, Cardano, NEM, and others are also down, some by as much as 12 percent in a 24 hour period.
\r\nDespite Ripple\'s losses, it retains its position at No. 2 on the cryptocurrency leaderboard, with Cardano at 5, NEM at 6, and Stellar at 9.
\r\nIt is understood that bitcoin\'s surge has been the result of the recent altcoin rally, with investors placing altcoin gains back into bitcoin; a move that has raised the value significantly.
\r\nShould bitcoin reach the predicted $18,600, values will be close to the pre-Christmas peak, when bitcoin\'s value rose to $18,737.60 on December 18, with a market cap of $313bn. Current market cap stands at $274bn.
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