Bitcoin cryptocurrency pushes up
The second weekend in a row, the crypto community is experiencing a long-forgotten feeling of hope for the return of growth of digital currencies. In recent days Bitcoin (BTC) adds more than 5% and is trading at $3950. Overcoming and consolidation above $4000 can create new impetus to optimism for investors in bitcoin and the entire cryptocurrency market as a whole. The main allcoin market adds Ethereum in the last 24 hours, more than 8% and is currently trading around $150. It should be noted that since the broadcast started the rally.
The fundamental positive around bitcoin and ether was not, except that Nasdaq 25 Feb adds quotes these two cryptocurrencies on its platform that already is perceived by market participants as a kind of “promise”.
The total capitalization of the cryptocurrencies from February 17 rose to $13 billion, which is a very good measure of performance for the market, which in recent months was weary of the stagnation and subsequent recession. If the cryptocurrency could keep up the growth, it will create an additional incentive to buy. The biggest BTC wallets do not show any significant activity, so experts suggest different triggers, ranging from technical (cycles of undervaluation of assets) to the geopolitical (bargain USA and China) and psychological (FOMO and feeling that the worst is over).
In fact, it may take some time before the true drivers are installed (if they are), but it is unknown growth impulses most strongly encourage investors to “open their wallets” because the fear to miss your chance is magnified. When the dynamics of the market is clear and predictable, it rarely causes significant fluctuations. Train of easy money from multiple capitalization growth is not yet fully left the sector.
Nevertheless, it is necessary to exercise caution so as to stabilize before a new growth phase is still not reached. Yes, everyone is waiting for the decisions of regulators, in the information field and then get news about the “imminent approval” of those or other tools, but for now it’s just “leakage”.
The launch of the ETF can be highly overrated, as no one knows exactly what will be the demand from institutional investors. After all, we’ve seen a little over a year ago that the launch of futures does not help Bitcoin. Perhaps even the opposite.
Alexander Kuptsikevich Companies,