Last week, Bitcoin started it’s uptrend movement from around $4000 price level to over $5000 price level.
The world’s largest cryptocurrency by market capitalization crosses $5000 price level after a long bull run during the year. Bitcoin saw it’s all time high of over $20,000 in 2017. Bitcoin has a total market capitalization of over $88 billion with a 24 hrs trading volume of $15,294,150,941 USD.
Ethereum is 6% down to the all over price increase of bitcoin during the week. Therefore, bitcoin is 6% up against all other altcoin in the market. Ethereum is the second largest cryptocurrency by market capitalization and the largest altcoin by market capitalization. Bitcoin started the week at $4090 price mark and is currently trading at around $5043.03 at press time according to CoinMarketcap. There is over 18% increase from its previous $4090 price level during the week.
Some market analysts claim the bitcoin price increase over the week is a concerted effort from top bitcoin holders. They claim the price will eventually go down in no time because it’s not a market driven force. Some others claim its a sign of mass adoption of cryptocurrency as more users are trading bitcoin against their favorite cryptocurrency.
The total cryptocurrency market cap cryptocurrencies is currently equivalent to $175.01 billion. This is almost 18% higher than $143.4 billion, the value it saw one week ago. With bitcoin securing almost half of the total market capitalization.
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