Bitcoin price has risen nearly $300 to the $2800 arena in less than 24 hours sending euphoria through the Satoshi community. Late afternoon on Monday, it crossed the $2600 line and in the early hours of Tuesday, it was already in the current price range.
The trend has proven those who asserted that last two weekend’s brief panic was not a bubble in principle right. From the look of things, the trailblazer is not yet done going up in value.
Data from Cryptocompare indicates that since the last so-called bubble, it has gone up by 32 percent adding as much as $672 to its price and posting more than $46 Billion in market cap.
CCN.com spoke to a couple of community members who expressed optimism about the future. Core Media CEO and Community Manager of Waves, MX hinted:
The Crypto market is still small, stocks will be more dangerous than Bitcoin soon. There is huge bubble outside crypto and people are diversifying portfolios in crypto, gold etc, but at the same time with such small market cap like Bitcoin has, there will be big price corrections -1k$, -3k$ until it stabilises at some higher world market level.
Abhishek Bandari of Asia Digital Coin believes the price will cross $3000 sooner than later and validate that it is not a fluke at all. When asked if it is healthy for the crypto space, he answered in the affirmative.
“It is a genuine growth indicating Bitcoin and cryptocurrencies are maturing to the point of mainstream acceptance,” he stated emphatically.
Meanwhile, Ethereum is at its all time high with a market price of $257. It has also push behind the bad time it had last week. Ether depreciated on three straight days in the last week of May.
Litecoin is not doing bad either as it has increased its price to $30. There are talks of Chinese Exchanges resuming withdrawals boosting its standings.
The most refreshing news for the day in altcoin space is Monero. Gradually it is proving to be resilient and expanding its value. Yesterday the anon coin could boast of a market price of $37 but interesting enough, it is being sold for $51 today with more than $750, Million market share.
Featured image from Shutterstock.
Last modified: June 10, 2020 2:42 PM UTC