The cryptocurrency market in the last 24 hours is in a frenzy. Billions of dollars flood the crypto-space with bitcoin reaching more than $64.000.
The trading of the Coinbase share on the Nasdaq begun, a fact that certainly helped in the upward climate. At present, the total cryptocurrency market is valued at more than $2.2 trillion, up 4% yesterday. Bitcoin reached a high of $64.895 and has risen more than 15% in the last seven days.
Ethereum has gained some of that dominance as ETH is traded for $2.380. This means that ETH now holds 12.3% of the total market capitalisation. The ETH rose 7% yesterday and 21% for the week. Behind ETH is the BNB, which trades at $572. The BNB rose 1.9% yesterday and a whopping 52% last week. XRP managed to oust the tether (USDT) from fourth place as it traded at around $1.82.
Cardano (ADA) trades at $1.46, Polkadot at $42 and Litecoin at around $272. Uniswap (UNI) is currently trading at $35 with a current increase of 1.3%. The tenth position in the market is held by DOGE with 0.141 dollars and an increase in the astronomical percentage of 86% on Wednesday.
As Eric Demuth, CEO and Founder of Bitpanda, puts it: “Bitcoin is constantly evolving for many reasons. Whether it is the massive media coverage or the adoption of the trading infrastructure bitcoin from big banks like JPM or Goldman Sachs, the decisive step was probably the first investments made by S&P 500 companies. The range of bitcoin private clients is constantly expanding, making it the most important investment element for companies and pension funds. The rally in recent weeks is due in part to the entry of institutional investors’ money into the market. And it seems that views on the subject are polarised between two extreme positions: on the one hand are those who see cryptocurrency as the holy grail and on the other those who still see it as a speculative vehicle and try to underestimate the value of bitcoin with outdated and false myths. ”
The company also published the company’s letter to investors in April 2020 showing the company’ s forecast.
Morehead tweeted: “A year ago, Pantera Capital predicted #BTC to hit usd 62.968 this week. This exact week! The price movement is simply following previous halvings, so they expect 115k by August”.