Bitcoin is currently trading at over $38k in price as at press time and this was a significant jump in few hours over the past weeks.
The crypto market for some weeks has been in what some analysts would say bearish state. But like every sound crypto investor when telling others to consider buying a crypto, “Do your Own Research”; Crypto has shown again that when it comes to predicting its movement accurately, that is a near-impossible task. It has a mind of its own. Does it?
For some weeks now, some crypto analysts were calling the bottom of bitcoin to be $25,000 after seeing the massive FUD, market sell-off activities and negative sentiments. This was also influenced by the total market capitalization falling to 1.3Trillion dollars.
Like previous bull runs, they concluded the 2021 bull run has ended. Some of these investors or trades must have also taken a short position on the unpredictable cryptocurrency.
According to data from Whale Alert, there seemed to be a lot of stablecoins moving to exchanges in the last 24 hours. As at press time yesterday, Bitcoin was trading at $34k and has gained 12% in just over 24 hours putting it at $38.5k per btc.
Other cryptocurrencies are also enjoying the bull ride.
Second largest cryptocurrency Ether is currently trading at an 8.82% gain sitting on a marketcap of $274.8billion with a price of $2,350.
Binance Coin – BNB is currently enjoying a 7.16% gain at the price of $322.
Cardano and Dogecoin are both enjoying the highest gains amongst the top ten coins at a gain of 14% and 16% respectively. Gavin Wood’s Polkadot is trading at a 12% gain with a price of $15.16. XRP is living the life at the number 6 position of the largest cryptocurrency with a price gain over the past 24hours of 10%.
With the total market capitalization at 1.55 Trillion dollars, heating activities on exchange would the bull sustain this massive surge? Tell what you think below.
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