There is a lot of momentum taking place within the cryptocurrency space these days. Bitcoin’s price momentum over the past few days has been interesting to watch, as it benefits the entire cryptocurrency industry.
The year 2020 has been a bit of a mixed bag for Bitcoin and all other cryptocurrencies.
Despite initial promising price momentum, the markets crashed during the coronavirus crisis.
This week, it appeared that the dip had finally been overcome, although some of the bullish momentum has eroded once again.
Bitcoin, for example, peaked at $9,388, yet now trades $600 lower once again.
All things considered, the overall cryptocurrency market cap is in a good place.
Following the recent surge, it now sits above $244 billion, after dropping to $183.5 billion a month ago.
As such, the current turn of events is still very promising,, although the bears may region control for a while.
As long as Bitcoin can remain above $8,500, there is no reason for panic.
Other cryptocurrency markets are moving up nicely as well, including Ethereum and XRP.
It will take a while before the entire crypto market cap moves above $300 billion again, however.
Stimulus packages associated with the coronavirus may help the entire industry recover accordingly, although that remains to be determined.
Bitwise Asset Management has just made its first move into tokenized funds, and it comes…
Binance just made a move that blurs the line between crypto exchange and traditional brokerage…
NEAR Protocol has had a month that most blockchain projects would stretch across an entire…
Something is becoming increasingly clear about Chainlink, the integrations are not slowing down. The protocol…
Blockchain investigator ZachXBT has flagged a major stablecoin freeze that is sending shockwaves through the…
From a primarily interest rate swap niche product, Exponent has developed into an onchain capital…