Bitcoin, the most valuable unit of the crypto money market, survived the crisis in 2018. The last $ 8,000 level observed in the last declining wave of May 22 was reestablished. The biggest difference this time is that Bitcoin is on the rise.
Bitcoin, under the pressure of bullies, theft cases and market regulations throughout the year, eventually started its expected upward movement. The most valuable unit of the market is making hundreds of reinvestors laugh.
The new bullish wave, which began on July 16-17, has steadily gained momentum after momentary increases. The 8,000 dollar dam, which was observed in the period of the latest decline until May 22 and after, was seen during the ascension period. After the barrage in the morning hours, the observed increase in the last 1 week is likely to continue.
The rise of Bitcoin also increases the pressure on the market; At present, the whole crypto is 47.2% of the money market reserve. There is an important detail that this ratio offers us. It was last seen in December 2017 when Bitcoin reached its maximum level. The reappearance of Bitcoin's print on the market at a time when it is lower than the value in December indicates that Bitcoin slips from the sub-coins.
The rise of Bitcoin affected the preferences of investors in other units. As many investors began to spend subcoins in their hands on Bitcoin, their values had fallen. Ethereum 4%, Ripple 4.2%, Bitcoin Cash 3% and EOS 6%.
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At the moment, with a steady acceleration, Bitcoin's rise led to a total market value of $ 290 billion.