After several weeks of bovine traffic, a bearish retreat, and an even larger bullish race, it seems that Bitcoin hid a bit during the weekend before another jerk.
Now it rushes back up to $ 9000, while traders and analysts are wondering, in the meantime, how long it will last.
On the night of May 26-27, the bitcoin rate made another leap upward, exceeding $ 8,700 on most cryptocurrency exchanges , which was a continuation of the bullish trend that began this spring.
Over the past day Bitcoin has risen in price by almost 9%, and over the past seven days, its price has increased by more than 19%. The capitalization of the first cryptocurrency at the same time exceeded $ 152 billion.
It is worth noting that the last time above $ 8,800 bitcoin was traded more than a year ago – May 11, 2018.
Against the background of such a rapid rise of Bitcoin, altcoin rates are also growing with a total capitalization of the cryptocurrency market, which exceeded $ 268 billion.
The capitalization of the cryptocurrency market at the time of publication of this material exceeded $ 268 billion, and the bitcoin dominance index was 57.4%.
In 2019, the BTC rate increased by 140%. Experts believe that interest in the cryptocurrency industry is fueled not only by the massive transition of many companies to Bitcoin, but also by the upcoming launch of the Facebook token. The creators of the world's most famous social network are planning to present their coin GlobalCoin in the first quarter of next year.
Now BTC is just preparing for the next take-off, and we will be able to witness a more aggressive jerk of the coin after the launch of the platform for institutional investors of the Fidelity company .
Many supporters of the digital asset are confident that the arrival of large players in the cryptosphere will provoke a repetition of the famous rally of the end of 2017, when Bitcoin reached $ 20,000.
Publication date 27.05.2019
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