According to Goldman Sachs, the Fed rate cuts could be the perfect catalyst for Bitcoin adoption, aligning neatly with the Bitcoin halving.
Dogecoin has seen its fair share of attention from Elon Musk in the recent past, and it seems the Tesla founder is showing no signs of stopping his (perhaps pseudo-)advocacy for the meme-coin. April’s Fools Day or not, Musk’s tweets result in a fresh interest in the cryptocurrency price – with Dogecoin shooting up nearly 40% in minutes.
According to Musk, his other tech company is going to make sure a “literal” Dogecoin heads for the “literal” moon.
SpaceX is going to put a literal Dogecoin on the literal moon
— Elon Musk (@elonmusk) April 1, 2021
Dogecoin price responds to Musk – again
As it has done in the past, Dogecoin price saw a massive spike in trading value after Musk tweeted about it. Musk’s activity around the meme coin might remain ironically meme-like, but the price of the altcoin seems to be playing no jokes. Immediately after his tweet, Dogecoin rose to the highest it has tagged in a month with a 35% increase in trading value. While the gains have cooled off, the cryptocurrency price is still in the green with a 6.65% increase in day-on-day trading.
Bitcoin price still gaining
On the other side of the market, the leading cryptocurrency remains in the green too. With a minor 1.35% increase in daily trading, Bitcoin has been holding above $59, 000 USD. If the market manages to retain its strength and regain stronger values, we could be looking at a particularly bullish Easter weekend.
As reported, Bitcoin price has had a powerful first quarter this year – one of the strongest in eight years. With March providing bullish gains – a month typically bearish – the second quarter of 2021 could see brand new record highs across the market. Time will tell whether Bitcoin will retain its dominance or if we’re heading towards a strong altcoin season.