The price of bitcoin and a range of digital assets saw significant gains on Monday, as all crypto-economy market capitalization has gained 2.4% in the past 24 hours. Bitcoin’s value surpassed the $ 50k psychological zone after hitting a low of $ 43,021 the previous day on Sunday.
- Bitcoin (BTC) hit a high on Monday, March 1, at $ 50,244 per unit around 7:26 pm (Eastern Time). At the time of publication, BTC’s overall market valuation was about $ 926 billion and there was $ 22.83 billion in global trade volume. The current price is 15% higher than the low of $ 43,021 per unit on February 28.
- Of all existing crypto-assets, BTC’s market dominance in terms of market valuation against $ 1.44 trillion in value is 61.02% today. Bitcoin still fell 8% in the week, but rose 44.92% against the U.S. dollar in the past 30 days.
- The second largest market capitalization is ethereum (ETH), which is now trading at $ 1,583 per currency. ETH has increased by more than 9% in the last 24 hours, but the ether has lost 12% over the seven-day period. The 30-day odds against the US dollar show that ETH is up 13.19% today.
- Cardano (ADA) still commands the third highest market valuation, as each ADA is changing hands for $ 1.29 per unit. The ADA increases on Monday are not spectacular, as the active crypto increased by just 1.8%. However, the token increased by 18% over the past week and an impressive 256% over the past month.
- The binance currency (BNB) has risen 18% so far and is being traded for $ 262 per token. The BNB fell 4.4% against the dollar in the last week, but the 30-day statistics show that the BNB gained 470%.
- Tether (USDT), stablecoin dropped to fifth position this week and saw an increase in volume during the fall in crypto-economics. The USDT trading volume is currently greater than that of the BTC as of March 1, 2021.
- Crypto prices are on the rise now. After seeing a number of significant bull traps over the past week. Bitcoin prices, in particular, in March, and other crypto-asset markets in general, generally performed well during this month. This is historically the case, except on March 12, 2020, also known as ‘Black Thursday’.
#Bitcoin bull market in 2017:
• 6 corrections of 30-40%
• followed by an average gain of 153% pic.twitter.com/cx1M10vpKS– Bitcoin file Arquivo (@BTC_Archive) February 28, 2021
- For many observers, it appears that we have hit two small spines in the 20-25th percentile range. The Twitter account nicknamed ‘Bitcoin File’ noticed that during the bull market in 2017 there was “[six] corrections between 30-40% ”and each was“ followed by [an] average gain of 153%. “
- “Bitcoin appears to have recovered today, with the cryptocurrency markets starting the week in a resurgent mood,” said Paolo Ardoino, CTO at Bitfinex, in an investor note on Monday. The scenario of enormous pent-up institutional demand and the interest of long-term investors may be here to say, but time will tell, ”added Ardoino.
- Bitfinex’s CTO further said: “Those who draw parallels with the bursting of the crypto bubble in 2017 may not be responsible for the advancement in technology since then. We believe that the technological infrastructure of the space as a whole is proving to be robust. “
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