Bitcoin’s market cap has increased 5x in just one year, from around $6 billion during summer 2016 to now $30 billion, following its price rise from around $450 to now trade at around $1,760 on Coinbase.
Bitcoin’s price rises by $500 in two weeks.
The latest rise began on April 25th, exactly two weeks ago, increasing from $1,257 to $1,765. What caused this sudden $500 appreciation is not very clear, but its price increase appears to be inversely correlated with a price decrease of other digital currencies.
Almost all of them are down today, while bitcoin is up, suggesting traders and investors who have seen some amazing gains and all-time highs in other digital currencies might be diversifying some of their profits to bitcoin.
The market cap of all digital currencies has seemingly not increased since yesterday, even though bitcoin’s market cap has. Suggesting its price increase might be merely reshuffling. On the other hand, when other digital currencies increase, the market
Read more ... source: CryptoCoinsNews
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