Bit-comment: Bitcoin jumped above $6K

The first cryptocurrency jumped more than 13% in one day and changed hands above $6k. The crypto market in general and Bitcoin, in particular, have shown a significant price jump in the last 24 hours. These are still not the values from which the market collapsed a week ago, but now Bitcoin is fighting for $6k, not for $6k. After consolidating around $5k, buyers attracted by the opportunity to get it cheaper after the massive sale-off in the past week.

The altcoin market showed equally impressive growth. The leading alternative cryptocurrencies grew by 8-30% in a day. However, the growth rate still did not reach the rate of decline last week. The crypto market will have to show steady positive dynamics to get back the buyers’ confidence in the asset prospects. Despite the growth, the Crypto Fear & Greed Index is still in the area of “extreme fear”, and even declined from 12 to 9 in a day on the back of the suspension of growth.

The FxPro Analyst Team