Bitcoin has been trading over the price of $7000 since July 18. Cryptomarkets have bearish and bullish movement from last five days, many altcoins and major cryptocurrencies have been showing variations in price every hour and the whole week went merely predictable. BTC was trading at $7523 with a minor loss of 1% in last 24 hours, till press time.
Bitcoin started rising on June 15 from $6250 and managed to cross the tough barriers of $6500 and $7000. For past one week, cryptomarket has been gaining value a little over 1%, and it has reached a total market cap of $28.5 Billion. Other altcoins including Ethereum, Stellar, Cardano, IOTA, and Tron have also shown significant gains of 8-9% in last week.
However, with BTC’s rising dominance of 45% and eventually many altcoins have experienced a slight pullback but still, there is no noticeable bullish movement throughout. BTC had this as an astonishing week. Till the press time, BTC had a market of $129 billion with $3.54 billion trading volume. It has marked a 21% in monthly gains.
Comparatively, Ethereum (ETH) has lost around half a percent in the past 24 hours. The leading altcoin has gained only 3% in the week, but still, it managed to be stable and out of market momentum. Till the press time, it secured a price of $465.
Following BTC’s spike, altcoins including Ripple, Bitcoin cash, and Cardano has also secured their position in green. Other major altcoins are losing smaller fraction as BTC is expanding its dominance. Price of other altcoins have dropped to, Ethereum (ETH) 0.31%, EOS 0.14%, Stellar (XLM) 0.23%, Litecoin (LTC) 0.82%, IOTA (MIOTA) 2.1%, and Tether (USDT) 0.27%.
This hike in BTC is supposedly connected with the investment giant Blackrock’s commencement of launching Bitcoin futures. However, still, there is no commitment of upcoming market trend, as it is believed that with current bull run BTC might gain $10K value but can hit the grounds at $5K before it hops on to a predicted value of $60K or higher.
