Today, the leading cryptocurrency in terms of capitalization has shown an increase of 5% per day and almost 20% per week. Leading altcoins are still lagging behind in growth.
The Bitcoin correction, which has been going on since the beginning of September, can be considered complete. The first cryptocurrency returned to the psychological milestone and showed a maximum of more than $ 50,300 at 13:00 Moscow time with an increase of 5.43% in the 24 hour range and about 19.87% in 7 days.
The reasons for the change in investment sentiment, reflected in the value of BTC, still need to be subjected to a comprehensive analysis. The expected global fall in the global financial market due to the collapse of the Chinese developer China Evergrande is still postponed or is taking place in uncritical business conditions. The success of El Salvador also played a positive role. The predicted riots and the collapse of the country’s economy do not yet look real. Moreover, half of the country’s population and business have joined the integration processes. Also, they do not have actual confirmation of fears about a possible US default due to exceeding the country’s national debt threshold.
Bitcoin’s positive investment trend has reflected in the value of leading cryptocurrencies, although altcoins are showing slower growth, remaining at yesterday’s levels. The price of ETH rose to $ 3,444 (2.85% per day and 18.22% per week), BNB returned to $ 435.57 (3.57% and 28.90%), ADA to $ 2.23 (2% and 4.72%).
The total capitalization of the cryptocurrency market has risen to the level of $ 2.2 trillion, of which bitcoin accounts for $ 943 billion (43%).
Most experts are confident in the optimistic future of Bitcoin. For example, Bloomberg senior strategist for commodities Mike McGlone suggested that over time, Bitcoin will grow to $ 100,000, since it is not just a popular cryptocurrency, but an international reserve asset.
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