Bitcoin up by more than 110% in 2020
Bitcoin has shown yet one more time that it is the most destructive and dominant crypto in the entire market. The breath-taking surge of the asset in the last couple of days is remarkable providing you with the vibes of the Bitcoin’s 2017 bull run. But yes, with a difference.
At the time of composition, Bitcoin is rallying with a tremendous jump of 8.62% to touch $15,537.23 with a massive 15.49% surge in the past 7 days. Unlike the 2017 bull run, where-in bitcoin crashed to the rock-bottom levels, this time, it is expected to move on steadily. But why? Here it is,
Therefore, with the matured mindset and balanced Bitcoin conduct, surpassing $20,000 should not be a difficult task.
Is Bitcoin Crushing the Altcoin Market or Escorting them?
Bitcoin is regaining its dominance in the crypto market with 65.33% with an increase of 0.83%. Not only it is showcasing its dominance but also the momentum over the crypto market. With the Bitcoin bull rally, most of the altcoins which were trending in a very narrow margin, have become very active suddenly.
In fact, the DeFi market had fumed into ashes. But the trend showcases that the altcoin market and the DeFi space has entered their correction phase. Most altcoins have managed to gather a pretty good amount of rebound since Bitcoin price rose to new highs.
Also with the release of the ETH 2.0 deposit contract address, Ethereum also gained huge momentum in the market. Currently, Ethereum Price has successfully maintained above $400 and many predict it could soar above $500 very soon.
Source: Read Full Article