Bitcoin’s Spring Has Sprung

For the first time since its meteoric rise and peak in late 2017, Bitcoin is seeing a steady surge to its highest level in 7 months. At the time of publishing the coin was at $5025 with 4 days of steady positive trading. This is an increase of over 20% for the currency.

While Bitcoin is the leader of the pack in the cryptocurrency market place, it is not the only cryptocurrency to be experiencing an early summer sunshine.

Ethereum, the second biggest of the cryptocurrencies has also experienced a surge and is currently trading at $168.68 and has a market cap of over $17 Billion, while Ripple gained as well, and is currently standing at $0.344 and a market cap of over $14 Billion.

The total market capitalization of all cryptocurrencies increased substantially during the sudden market surge. As of 4 April 2019, was standing at $175 Billion.

And the Others?

All the top 20 currencies except Tezos, which was down 4.4%, are currently enjoying the warmth of the new crypto spring, with quite a few experiencing double digit growth over the last few days. Litecoin, Cardano, Monero and Tron have experienced the most impressive gains, with a growth of around 10 percent, while other altcoins were up by between 5 and 10 percent.

Simultaneously, Tether which is a fiat-pegged stablecoin with the highest trade volume, hit an all-time high in terms of daily transactions, this is according Coin Metrics, a blockchain data provider. As Bitcoin and the rest of the cryptocurrency pack enjoy the dawning of spring, the rest of those in the market place are remembering a prediction made in a tweet by crypto trader and investor from TokenBacon, Josh Rager on March 31. In the tweet he said that the next Bitcoin cycle should peak at $150,000 by 2023. While there may be a few sceptics in the mix regarding the prediction, most crypto investors are optimistically believing that Bitcoin will go as far as hitting the $200,000 mark and beyond.

Conclusion

While it is a waiting game for every one that is invested into the crypto sphere, the current surge has certainly breathed new life into the market place, creating a general feeling of optimism and excitement. It is without a doubt that Bitcoin and its fellow cryptocurrencies are the future of financial trading solutions, and it is on that belief that it is possible to bask in the sun of the coming crypto summer.

Leave A Comment