Altcoins React on BTC's Sudden Surge, Some Major Coins Post Double-Digit Gains

Following Bitcoin's sudden jump earlier in the day, altcoin markets have also entered the green zone, with some of the major cryptocurrency markets registering solid growth.

Bitcoin had been hovering around $7,500 during the day until it suddenly surged over $500 in just five minutes to the $8,391 price mark.

At press time, the leading crypto is trading at around $8,541, up by nearly 15% on the day.

Top-20 coins are posting gains as well, with some of them seeing double-digit price increases.

The major gainers on the list are Bitcoin Cash, Bitcoin SV and EOS, having registered 20.5%, 20.08% and 15.21% increases in value over the past 24 hours.

The largest altcoin, Ether, has registered solid gains of 11.6% on the day to trade at around $181 at press time.

Ether's current price is not the highest on its monthly chart, as it posted $196.5 on Oct. 11.Ether 24-hour price chart.

The altcoin is currently trading at $0.299, while its highest price point on the day was $0.303.XRP 24-hour price chart.

Tether, Unus Sed Leo have experienced minor gains of 0.02% and 2.03% over the day, and are trading at around $1 and $0.971 at press time respectively.

According to some experts, users choose Tether due to the stablecoin's capability to avoid price fluctuations.