on the crypto
La Bitcoin listing it dates back and suffers a surge approaching its crucial resistance of $ 7.000. Analysts believe it is the beginning of a new run of the most famous cryptocurrency.
Bitcoin quote: a truly dizzying surge
The surge in the cryptocurrency market looks very strong given that the Bitcoin price (BTC) has undergone an increase of +6,5% today.
At the time of writing, Bitcoin is traded in $6.718 with a market capitalization of $ 118 billion.
The world's largest cryptocurrency has shown a phenomenal recovery since April 2019 gaining nearly 70% in the past 40 days. Is this a change of course?
Some analysts and cryptocurrency experts have called it "Squeeze Shorts“: It's the real reason behind this price hike.
Second Investopedia, "a large number of short sellers are forced to close their position, pushing the price even higher".
Cryptocurrency market: Total capitalization greater than $ 200 billion
In addition to Bitcoin, the Altcoin market is showing a great recovery: overall capitalization has exceeded $ 200 billion.
After November 14, 2018, it is the first time in the past six months that market capitalization has exceeded this threshold.
As of April 1, 2019, the cryptocurrency market has added nearly $ 60 billion to its overall valuation.
THEEthereum (ETH) gained nearly 6% nearing $ 200 levels. At the time of writing, the ETH is trading at $ 184 with a capitalization of
$ 19,6 billion market.
THEXRP shows earnings of less than 3% and is traded at a price of $ 0,30 with a market capitalization of $ 12,9 billion.
Il Bitcoin Cash (BCH) gained 6,80% to over $ 300. On the other hand, the Litecoin (LTC) gained 8,86% and reached a quote of $ 83.
Start a new bull market?
Some experts say that the current market recovery is the beginning of a new one upward race. Vinny Lingham, CEO of the blockchain start up CivicKey, hinted that the bear market could finally be finished.