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Bitcoin Has Broke $8000 Sending Crypto Market Cap To $235 Billion

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Bitcoin Has Broke $8000 Sending Crypto Market Cap To $235 Billion

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About 20 minutes to 2:00 AM GMT+4on Monday, Bitcoin price jumped over the $8000 line to record an all-time high price for 2018. At 2:10 AM when this report was being filed, it had soared 14.15% to trade at $8039.21.

At the moment, Satoshi Nakamoto’s invention has a 60.5% market domination. The total market cap is hovering at $142 billion with almost $29 billion 24 hour trading volume.

It would interest readers to note that Bitcoin has had its most substantial volume of all-time two days in a row. Sunday and Monday were very impressive for the BTC market.

The total market capitalisation of the entire cryptocurrency market is now in the region of $235 billion. Most coins are in the green zone as top 25 on CoinMarketCap is blossoming with just a few losses on top 100.

Without certainty, the pernicious bear market is over, and the bulls have arrived. From Saturday, the Price rally has added over $40 billion to the value of the ecosystem.

Binance which started the week with more than 10% depreciation was at the time of going to press up by 17.25% accruals. Bitcoin Cash is continuing the winning ways cashing 12.97% percentage points.

ETH and EOS nailed it 8.39% and 7.02% respectively. Whilst Litecoin captured 5.76% accretions.

Experts Views On Gains

 

The upward market trends have been an unexpected one since it was long Crypto winter that witnessed market cap falling from $800 Billion to around $120 billion. QBITtimes solicited expert opinions about what is shaping the bull run.

Daniel Takriti, CEO at Qubitica thinks the swell originates from the ‘Tether scam’. He asserts:

“In contrary to the opinion many Fintech guys have, liquidation of Tether does not lead to BTC sell. It leads to more demand for BTC. Many people stand on the wrong foot now. I would not bet on a continuation, but I would rebuy BTC for 6000 USD easily.”

In his judgment, Yagub Rahimov, CEO of 7Marketz Group, It is not just one thing, but a combination of elements that is leading to higher demand which equals to the higher price.

“The Bakkt announcement was the main driver today. Some of the bots read it as an ETF approval I believe,” Rahimov denoted. “My assumptions are based on the breakout candle.”Bitcoin Has Broke $8000 Sending Crypto Market Cap To $235 Billion

Frisco d'Anconia

Frisco d'Anconia is a journalist by profession and a Free Market Policy analyst. Through Africa Youth Peace Call which he founded in 1997, more than 2000 African youth were educated in Free Markets Economics and entrepreneurship. Many of these people have moved on to start businesses and institutions to advocate for market reforms in Africa. In 2007, he won the 1st Prize of the Mont Pelerin Society Essay Competition for Africans under 30 with an essay on Ghana's Telecommunication Liberalization. This man single-handedly brought Bitcoin/Cryptocurrency and Libertarianism to his native Ghana. Since 2011, he has been spreading Blockchain technologies in Ghana through his Liberty and Entrepreneurship Camps. He has written for the Cointelegraph, CryptoCoinsNews, Core Media, Bitcoinchaser and others with the pen name Frisco d'Anconia. From 2016, he is travelling through Africa promoting and writing about Blockchain technologies and its communities for the Crypto journals. So far the Cryptotraveler/Cryptovagabond as he's popularly known has been to 22 African Countries attending conferences, organising Meet-ups and promoting Blockchain Projects. He lives on, and solely earns Crypto and has no bank account. He ardently holds that Blockchain technologies are the answer to Africa's copious malaise. Currently, Mauritius is his base where he runs Qubitica LTD, a Blockchain Company as CEO, and as the Managing Editor of QBITtimes. His interests are Economic Freedom in the world, Fintech, writing, teaching, travelling and children, and has two beautiful daughters.

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