Bitcoin cash and Bitcoin SV are one of the best performing currencies today.After a few days of mediocre price performance, Bitcoin has finally started to rise significantly, pushing its price up a lot
Bitcoin cash and Bitcoin SV are one of the best performing currencies today.
After a few days of mediocre price performance, Bitcoin has finally started to rise significantly, pushing its price up a lot.
Shanzhai coins have also followed suit, with green now occupying almost all charts. Solana remains at a level of $20, with a daily increase of 4%.
BTC soared to $28000
For major cryptocurrencies, the opening of the previous business week was not smooth, as they began to depreciate after failing to maintain above $28000. The next few days were very painful, with BTC dropping to a two week low of $26500 on Wednesday.
The bulls intercepted this trend at this time and did not allow further declines. Therefore, Bitcoin has successfully remained above $26500, with a maximum of $27000.
As expected, the weekend was quite dull, with almost no activity. However, Monday's Asian trading session brought greater volatility. The cryptocurrency soared to a weekly high below $28000 within hours.
The 3.5% increase on the same day means that its market value has skyrocketed to over $540 billion after falling below $525 yesterday. Its dominance over counterfeit coins is also on the rise, currently far exceeding 50%.
Bitcoin USD. Source: TradeView
Alt turns green
Last week, alternative coins were also affected, possibly due to the ongoing conflict between Israel and Hamas. But now, green occupies almost all the charts.
Ethereum rose 1.5% to nearly $1600. After a daily increase of 2.5%, the currency has jumped to over 210 US dollars. Ripple, Cardano, Dogecoin, Tron, Toncoin, Polkadot, Polygon, and Litecoin all increased by 1-2%.
Solana rose 4%, close to $23. Bitcoin cash and Bitcoin SV benefit the most from the large market counterfeit coins. BCH rose by over 5%, while BSV surged by over 11%.
Judging from the price increase on Monday morning, the total market value of cryptocurrencies has increased by approximately $30 billion. As a result, the indicator currently exceeds $1.080 trillion.
Overview of the cryptocurrency market. Source: Quantitative Cryptocurrency
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