Cardano’s (ADA) Latest Update: Icarus And ‘Unsung’ Yoroi In Focus NANO and XVG Lead a Pack of 14 Alt-Coins Rebounding With a Vengeance Bitcoin will likely heave a sigh of relief at the current state of the market. In the last 24 hours, BTC has surged back above $6,500 as the total market capitalization has risen to more than $212 billion.
At press time, BTC was looking set to break the $6,600-mark, trading at $6,581. The top-ranked cryptocurrency seemed doomed to fall below $5,000 after a miserable run since the start of August.
Bitcoin has gained more than eight percent in the last 24 hours. According to eToro senior analyst, Mati Greenspan, the risen for today’s rally can be attributed to a fresh wave of buy-ins. Greenspan opined that once the BTC price fell below $6,000 and seemed destined to test $5,000, more people were incentivized to buy the crypto.
The eToro senior analyst also allayed fears of a crisis saying price fluctuations were a given between $5,000 and $8,000. According to Greenspan: The range we’ve been watching on bitcoin has been holding rather well.
Since the beginning of the year, we’ve seen buyers stepping in about halfway through the $5K handle, which is approximately what analysts estimate is the cost to mine bitcoin. At the time of writing this article, no coin in the top 100 ranking has a negative 24-hour price change on Coinmarketcap. Read more from ethereumworldnews.com…
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