Many crypto investors that have missed on their chance to buy Bitcoin (BTC) at below the value 4,000$ or even at the value of 4,000$, have probably regretted, as the top crypto is now looking at breaking the resistance of 5,000$ with the latest spike against the fiat.
Bitcoin (BTC) went up by 15% in a single day, also recording 22% for the weekly gains in the period of the last seven days, while the rest of the market is following the pattern on positive market trends.
Bitcoin Cash (BCH) that has been struggling ever since the hard fork is now seen 41% up in the last 24 hours, also showcasing 53% of gains for the period of the last seven days.
Although the rest of the market is spiking accordingly in what appears to be a mass rebound, this case might also represent a demonstration of how unstable the crypto market actually is when it comes to volatility.
On the other hand, the mass rebound might as well be a sign of volatility improvement in the long-run.
Bitcoin Up by 22% for the Week After the Latest Spike by 15%: The Market is Following the Trend
Almost every crypto on the list of top 20 traded cryptocurrencies, with the exception of Maker (MKR) is showcasing bullish trends, while BCH is spiking big time with hitting over 40% of gains in the period of the last 24 hours.
The price of BTC even went slightly above 5,000$ at one point when the crypto went up by 15% within the period of a single hour, however, the top crypto dropped back to around 4,600$ only to climb back up at 4,962$ on March 3rd.
Some cryptoanalysts and market watchers are arguing that this may be a clear sign that Bitcoin is getting back to its old glory, however, the rest of the analysts are still skeptic about the level of comeback that BTC may achieve in the following period.
Bitcoin most recently showcased the lowest volatility levels since August 2016, which can be also be interpreted as a positive sign for the cryptocurrency market.
Cryptos like Litecoin (LTC), Ethereum (ETH), Cardano (ADA), Stellar (XLM) and other top traded cryptos are also spiking, while Cardano is going up by over 35% for the last seven days and 14% in the last 24 hours concluded with March 3rd.
Whether the bullish trends are here to stay or the price pump effect will soon wear off is difficult to determine, as well as it is hard to find out what exactly is causing the surge, however, BTC had marked a major success as the top crypto haven’t seen the value of 5,000$ since November 2018 when a major and prolonged dip took over the market and introduced us to a long crypto winter.
Bitcoin is still seen in the green, as the top traded crypto is going up by over 4% in the last 24 hours, weighing 87,4 billion dollars, previously standing at around 69 billion before the recent bull run.
