Investors are perplexed as the deadline draws near and debt ceiling negotiations between the White House and Congressional Republicans representatives progress. Following a sell-off the day before, the global digital market printed some green indexes on Thursday. NVIDIA Corp (NASDAQ: NVDA) experienced a significant increase of 27%, giving Wall Street hope.
Is Bitcoin Price Prepared To Rise?
The largest cryptocurrency in the world, Bitcoin (BTC), is currently under selling pressure after falling below the critical $27K mark on Wednesday. However, in the previous 24 hours, the price of BTC somewhat increased. At the time of publication, the average price of one bitcoin is $26,272.
He emphasized that before it registered a massive rise, BTC was constructing an iHS Structure that matched the price chart for NVIDIA. On Thursday, Nvidia's stock price increased by 27%, bringing the chip manufacturing company's market valuation closer to the $1 trillion club.
According to reports, Nvidia's valuation increased by about $200 billion following the publication of its quarterly report. The market value of chip manufacturers is at $951 billion. At the time of publication, the price of its shares was $383.76 on average.
The price of bitcoin hasn't increased significantly during the past 30 days, however. The price of BTC decreased by roughly 5% throughout that time. The market capitalization of bitcoin, which was around $580 billion on April 26, 2023, is now about $508 billion. Its 24-hour trading volume, meanwhile, is also down 8% to $14.09 billion.