Bitcoin (BTC) the top cryptocurrency and the most volatile investment option has crossed $8500 mark on May 26 during Asian Trading hours. With this stroke, Bitcoin has captured an overall market dominance of 57.3% as per CoinmarketCap updated data structure.
At the time of writing the current market price of Bitcoin (BTC) is hitting a price of $8,727.26 with a circulating supply of 17,724,762. In the past 24 hrs, the major crypto asset has immediately surged at 9.13%. The knock out in the price rise and the market sentiments has positively affected the rest of the other digital assets as well which gained traction and from 5.3 to 5.8 price rise independently. Ethereum (ETH) is playing at a price of $268.50 with the past seven days rise of 6.95%, Ripple (XRP) is at $0.412059, Bitcoin Cash (BCH) is at $438.22 which is slightly low with -0.06% from the past one hour, however, it is signaling green with overall 9.79% rise from the last 24hrs, the rest of the digital assets all are performing good and penetrating good amount of volume in the adoption rate such as Litecoin (LTC) delivering a price at $113.91, EOS (EOS) at $6.96, Binance Coin (BNB) at $34.21, Tether at $1.01 and suddenly crossed a market cap of 3 Billion dollars, Stellar at $0.133159, Cardano (ADA) at $0.085857.
Is Bitcoin (BTC) Signalling Double Digits?
With Bitcoin price pump of over 13%, the wave of hope has occurred in the market sentiments and with its soaring price it is estimated by the analyst that the mounting scenario would take BTC probably to a level of $10000 within few days- a striking level which the BTC market hasn’t viewed since March last year. The new rise has boosted the rest of the altcoins market up to a ten-month high level from the last year drop.
Although, from April this year the cryptocurrency community is witnessing the heavy price rise, going from $4100 to $8100. At the same time, rapid corrections also came to the light after the consensus week overs with new announcements in the cryptocurrency space and significant adoption by several companies in exchange of god and services. So, there is still a possibility for correction until the price becomes stable at some point. The elevated one hour candle is again repeating a price rise which occurred two weeks ago, including May 19th when Bitcoin (BTC) failed again to rise and bounced back from $7000. Indeed, it gave a good chance to the investors and traders to accumulate more cryptocurrencies due to the less price in the hope of getting the upwelling movement in the cryptocurrency market.
Recently, one the cryptocurrency market bull Max Keiser has tweeted that Bitcoin (BTC) price would “coil up” as soon as Tether hits $3 Billion Market Cap with his confident approach he further said Bitcoin will hit a five-figure price.
KoinPost would love to get its readers output on the sudden upsurge in the market sentiments along with Tether’s market cap impact and Bitcoin price growth which is augmenting a very strong upward move and setting a target of $9,650 resistance.Do comments below!