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