Altcoins Soar After 10% Bitcoin Price Breakout

Photo: Coin Telegraph

(Coin Telegraph) - Bitcoin price appears to have flipped the $32,000 level back to support as the wider cryptocurrency market saw renewed optimism on Jan 28. 

Data from Cointelegraph Markets and Trading View shows that BTC has steadily climbed higher in price from $31,000 to its current value of $33,400, an increase of 9.5%.

The most notable gainer of the day was Dogecoin (DOGE) which surged more than 200%.

Wall Street Continues to Embrace Cryptocurrencies

Coinbase officially unveiled its plan to go public later this year. According to Coinbase Blog, the company will do a direct listing of its Class A common stock, making existing shares available to the public.

North Carolina wealth manager Kingfisher Capital also made headlines after filing documents revealed that the firm had purchase 10,667 shares of the Grayscale Bitcoin Trust over the past few months.

Several brokerage firms in the United States, including the popular mobile-based Robinhood, are receiving blowback for halting trading on stocks like GameStop (GME) and AMC Holdings Inc. (AMC), which has been the primary story of the week after a retail investor-inspired short squeeze by members of the Reddit group pushed the prices of each stock up by hundreds of percent.

Read more from the original article here.