The BTC rate in a few hours rose by 9% to $ 48,000, against the backdrop of the fall of the S&P 500

Bitcoin price surpassed the $ 44,000 level and approached the $ 48,000 mark in a few hours this Friday. Today, Saturday, the rate of the first cryptocurrency remains above $ 47,000, and the growth per day is 9%.

Many altcoins show performance comparable to bitcoin or weaker. The exceptions are VeChain and Qtum, which each added more than 20%. The total cryptocurrency market capitalization rose by 8.4% and again exceeded $ 2 trillion.

Analysts note that BTC is strengthening against the background of an unsuccessful start of trading on the US stock market. The SP 500, with which bitcoin periodically correlates, fell 0.5%.

«Why don’t we use cryptocurrency as the new gold standard?» – wrote earlier today the member of the US House of Representatives Madison Cowthorne on Twitter.

Bitcoin ended September in the red for the fifth straight year. The cryptocurrency opened the month at a price of about $ 47,100 and closed below $ 44,000, in the process reaching a minimum and a maximum of about $ 39,500 and $ 53,000, respectively. October for bitcoin more often ended with an increase.

Also yesterday, President of El Salvador Nayib Bukele announced the official start of Bitcoin mining using the geothermal energy of volcanoes and shared a screenshot of the pool’s performance on Twitter.

“We are still testing and installing, but this is the first bitcoin officially mined by a volcano,” he wrote.

Earlier, Bukele demonstrated the process of preparing for Bitcoin mining on the volcano.

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