Bitcoin Regains Momentum To US$ 22,338, Ether Up To US$ 1,726

The cryptocurrency market regains its momentum in the last one week significantly. Today, on September 12, at 6.20 pm UTC, Bitcoin gained by 2.54% intra day, and was quoted at US$ 22,338.60. Yesterday, Bitcoin closed at US$ 21,784.80. In the last 5 days, Bitcoin up by 15.78%. In the past 1 month, it has dropped by 8.5%. Additionally, in the past 6 months, Bitcoin plunged by 42.52%.

Other large cryptocurrencies are showing a mixed trend today. Ethereum was quoted at US$ 1,725.10, down by 2.21%%. Yesterday, Ether closed at US$ 1,764.13. Litecoin was quoted at US$ 61.06, down by 1.96%, Dogecoin was quoted at US$ 0.0641 up by 0.51%, and Cardano was quoted at US$ 0.5072 down by 0.42%% today, till last traded.

"Bitcoin's hashrate has been running hot despite the lower prices and the recent difficulty increases. In fact, blocks are being discovered faster than the ten-minute block interval average and because of this factor, the network's reward halving may come sooner than expected. While some halving counters that simply leverage the ten-minute average note the halving is expected in May or April 2024, halving counters leveraging precise block interval times show the halving event could happen as early as March 1, 2024," Bitcoin.com mentioned in a report recently.

The US stock markets also gained today. S&P 500 up by 0.84%, stood at 4,101.55, and Nasdaq Composite surged by 0.93%, stood at 12,224.48, at the time of writing. US Dollar index stood at 108.35, fell by 0.60%, till last traded.