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September 06, 2021 @ 09:54 +03:00
Bitcoin is already trading above $51,600, adding about 1.5K overnight. Last week, the bulls managed to keep the benchmark cryptocurrency rate above the 200 day moving average. In light of this, the price of “over fifty” has become quite common over the past few days.
Anchoring above this mark in the coming days will open the way to $ 60,000 and can become a catalyst for a full-fledged reversal of the crypto market.
Altcoins deserve even more attention, which last week surpassed bitcoin in growth several times, reducing its market share to almost 41%. Over the week, the capitalization of altcoins increased by 15% and reached $ 1.34 trillion.
Given the real decrease in the popularity of BTC in search engines, it is possible to conclude a redistribution of existing investors into alternative cryptocurrencies.
Ethereum showed an increase of more than 22% over the week, and its share on the crypto market again exceeded 20%. Throughout history, this happened only once in 2017, and even then for a short time. In fact, the growth of the main altcoin last week set a positive tone for all cryptocurrencies.
Also in the top are Fantom – $1.13 (↑ 120%), Revain – $0.0305 (↑ 85%) and IOTA – $1.81 (↑ 80%)
There are also “dark horses”. So, the Cardano coin updated the maximum, having gone above $ 3, but this was not enough for investors: on the eve of the launch of smart contracts, they expected more from the coin. As a result, the rate fell back to $ 2.87.
The impression is that the market lacks fresh blood to continue the general uptrend.