- Bitcoin price rises by over 40% in the last month
- Cryptocurrency market now worth more than $2 Trillion
- Bitcoin crosses the $47,000 mark
- ETH, Doge, ADA, BNB, and XRP prices surge
- Investors hopeful for an all-time high above $60,000.
After surging below $30,000, Bitcoin is roaring through August, with recent prices jumping as high as $47,000. The price of Bitcoin has increased by up to 40% in the last month, edging closer to it's $50,000 glory. This has had a ripple effect on the price of other leading cryptocurrencies, notably Ethereum, Dogecoin, Cardano, BNB, and XRP.
HODLers of these coins are a happy lot.
They have something to smile about as the market remained on an upward scale on Saturday, with a market capitalization increase of 0.8%, reaching $2.03 trillion.
Bitcoin, the largest cryptocurrency, posted a daily gain of 0.08% to reach $46,405, having crossed the $47,000 mark in the last week. The 0.08% increase brings the Bitcoin market capitalization to $871.7 billion.
At the same time, Etherium showed a 0.21% increase, reaching $3,236 and bringing the ETH market capitalization to $378.8 billion. Experts predict a 15% bounce as the crypto continues to set high highs and lows. The XRP was also on an upward scale with a 10.94% gain, reaching $1.15 and a market capitalization of $114.7 billion.
Cardano ADA is also another cryptocurrency showing promise as its price soared to $2.16, representing a 5.48% increase with a market capitalization of $69.6 billion. Consequently, the Doge (Dogecoin) also experienced a 1.17% increase, reaching $0.281, bringing the market capitalization to $36.7 billion.
As crypto prices continue to rally across the board, the combined crypto market has been pushed to over $2 trillion, the highest since May. This has revived hope for cryptocurrency investors, with most of them confident that the price of bitcoin will reach and surpass its all-time high of a little over $60,000.Kibet Elikana