The price of bitcoin and a number of digital assets made significant gains on Monday as the total market capitalization of the crypto-economy rose by 2.4% over the past 24 hours. Bitcoin’s value surpassed the psychological $ 50,000 zone after reaching a low of $ 43,021 the previous day.
- Bitcoin (BTC) peaked at $ 50,244 per unit on Monday, March 1 at around 19:26 (ET). At the time of publication, the total valuation of BTC was approximately $ 926 billion and there is $ 22.83 billion in global trading volume. The current price is more than 15% higher than the low of $ 43,021 per unit on February 28th.
- Of all the cryptocurrencies that exist, BTC’s market dominance in terms of market valuation compared to the $ 1.44 billion value today is 61.02%. Bitcoin has fallen 8% this week, but by 44.92% against the US dollar over the past 30 days.
- The second largest market capitalization is ethereum (ETH), which now trades at $ 1,583 per coin. ETH has jumped more than 9% in the past 24 hours, but ether has lost 12% over the course of the seven days. The 30-day chance against the US dollar shows that ETH is 13.19% higher today.
- Cardano (ADA) still recommends the third largest market valuation, as each ADA exchanges hands for $ 1.29 per unit. ADA’s increases on Monday are not spectacular, as the crypto asset increased by only 1.8%. However, the sign has risen by 18% in the past week and a whopping 256% over the past month.
- Binance currency (BNB) rose 18% during the press season, exchanging for $ 262 per sign. BNB fell 4.4% against the USD in the past week, but 30-day statistics show that BNB has risen 470%.
- Tether (USDT) moved the stable currency down to fifth position this week and saw an increase in volume during the downturn in the crypto-economy. USDT’s trading volume is currently larger than BTCs as of March 1, 2021.
- Crypto prices are currently looking upside down. After seeing a number of important bull traps over the past week. Bitcoin prices, especially in March, and other crypto-asset markets, in general, have generally done well during this month. This is historically so, except on 12 March 2020, also known as ‘Black Thursday’.
# Bitcoin bulmark in 2017:
• 6 corrections of 30-40%
• followed by average profit of 153% pic.twitter.com/cx1M10vpKS– Bitcoin Archive (@BTC_Archive) 28 February 2021
- To many observers it seems that we have reached two small speed bumps in the 20-25 percentile. The Twitter account called ‘Bitcoin Archive’ noticed that during the bull market in 2017 “[six] corrections between 30-40% ”and each is“ followed by [an] average profit of 153%. ”
- “Bitcoin looks set to bounce back today as cryptocurrency markets start a resurgent mood this week,” Bitfinex CTO Paolo Ardoino said in an investor letter Monday. The background of the great pent-up institutional demand and interest of long-term investors may be here to say, but time will tell, ”Ardoino added.
- The CTF of Bitfinex further said: ‘Those who draw parallels with the eruption of the crypto bubble in 2017 may not be responsible for the development of the technology since then. We believe that the technological infrastructure of space as a whole is robust. ”
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