Bitcoin has crossed the $6,600 mark while the total market cap has gained over $10 billion in 3 hours. Overall, the crypto market is registering significant gains while TenX is leading with 60 percent rise.
Bitcoin [BTC] eyeing $6,700 mark
Today is a gainers day for the entire cryptocurrency market. After days of constant downward momentum, finally, the bulls seem to charge at full force.
At the time of writing Bitcoin has been at $6,613 with a rise of 3.97 percent in the past 24 hours. The bears took a breather as the price recovered from $6,148 on July 13. It had been expected that the bears will further drag the Bitcoin price below the $6k level before making any potential upward movement.
However, today, especially in the last 3 hours, the prices took a jump of 2 to 3 percent. Bulls did appear but they only took charge in the past few hours and spread out in the entire market.
Since January, this has been only the second time, that Bitcoin drops down to this level. At June end, it has been at $5,800 and was expected to follow the suit this time as well before going up. However, the trend took a shift and started ascending.
The reason could be very well credited to the fact that the largest ETF provider BlackRock showed its interest in Bitcoin and cryptocurrencies and is currently exploring the market for future investment.
Bitcoin investors are hopeful of the institutional investors turning to the crypto market that can potentially bring in huge investment.
Crypto market gains $10 billion in 3 hrs
The entire cryptocurrency market is enjoying significant greens as the majority of the currencies are on the rise. From the top 15 currencies, EOS (EOS) is at the top with 8.61 percent gain at $7.76 followed by IOTA (MIOTA) at $1.07 with a gain of 8.43 percent and Cardano (ADA) is up by 7.35 percent at $0.15.
Whereas, Ethereum (ETH) is rising by 5.80%, XRP 4.12%, Stellar (XLM) 6.72%, and Tron (TRX) 4.80%.
However, the top gainer of this bull run is TenX (PAY) which is up by a staggering 60%. MCO and Kin follow up with about 17% rise.
The entire cryptocurrency market has gained more than $10 billion in just 3 hours and climbing upwards at $266 billion market cap while managing the daily trading volume of over $14 billion.
Right now, the question is will the bulls continue?
A computer science engineer, I have been adamantly following the blockchain and cryptocurrency industry for the past 2 years. A crypto enthusiast and hardcore blockchain follower. Reach out to him at [email protected]