Bitcoin Run Resumes
BTC has recovered and started to grow again on Sunday night, May 20. Due to the consolidation of the fundamental indications, BTC managed to regain the ground it had lost in the wake of overheating. The main altcoins have followed the leader and showed an increase.
At the time of this writing, bitcoin costs $8000 and the market capitalization of the coin exceeds $142 billion. Nevertheless, some exchanges saw the approach of $8300 last night. The analysts believe that the consolidation of the coin around the fundamental indications has resulted in the ongoing growth.
Bitcoin faced a sharp decline last week because of the so-called “overheating” which happened due to the aggressive purchases of the currency.
Some experts believe that the explosive growth of bitcoin is connected with the intention of Chinese investors to reduce the dollar’s influence at the time of the trade wars between China and the USA. But as soon as the situation returned to normal, the holders sold off part of BTC assets and triggered the fall lower than $7500.
But the coin not only kept higher than $7000, it managed to resume the growth extremely soon. The analyst Joseph Young twitted:
Some other experts and traders believe that the rapid come back became possible only due to the positive sentiments among investors.
Other cryptocurrencies are also in the green zone this week. ETH and XRP have risen by 2% and 4% up to $255,2 and $0,406 respectively.
Coin Dash has become the leader of the growth among top-20, having jumped by 15% up to $180.89. The capitalization of the coin has exceeded $1.506 billion. The total cost of all currencies is $251 billion, and the index of BTC domination is in progress again, having reached 57%.
According to the analysis of futures contracts reports, there is a chance that the run will go on.