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Following Bitcoin s rally last Tuesday, the cryptocurrency market has continued to grow to see healthy growth in what could be the next bull run. While Bitcoin price is volatile, and we cannot know whether the token will sink back down to bearish values, this is the best state we’ve seen the market in since November.
Taking data from Coin360 and Coinmarketcap, we explore the market’s movements.
Looking at Bitcoin, the token’s price surged last Tuesday from $4100 to $4700 and has been holding stable at above $5000 since Friday. Over the weekend, Bitcoin price gained $200 and is now boasting a price of $5,247. If the token can maintain this growth throughout the week, we could be seeing November’s mark of $6000 soon.
Ethereum has gained 6.36% in day-on-day trading. Currently, the leading altcoin is valued at $179.45. This is almost double the value that Ethereum saw after the massive drop that the cryptocurrency market faced in November. This time on Thursday, Ethereum was sitting in red, but it’s picked up since and is looking bullish.
Currently, Ripple’s XRP, Litecoin, Bitcoin Cash, and EOS are looking at slightly dipped prices over the weekend. The decreases, however, are not significant and could just be the readjustment from major surges from the previous week.
Simon Dingle, one of South Africa’s key tech figures, commented on the cryptocurrency market stating that “Bitcoin is the only one“. Considering how the market seems to follow the trend that Bitcoin starts in price and market cap, it seems he might have the right idea.