Bitcoin Extends Rally Amid Improving Crypto Demand
Investing.com – Bitcoin rose to a more than one-month high on Tuesday as sentiment on cryptocurrencies continued to improve.
Bitcoin rose 6.80% to $9,459.9 on the Bitfinex exchange.
Bitcoin has rallied for two straight-weeks as fears over regulatory concerns ebbed somewhat, paving the way for investors to resume their bullish bets on the popular crypto, which looks set to test a key $10,000 level.
“After fighting regulation headwinds and tax selling, the path of least resistance is higher, and I believe the sector still has much more upside in the long run,” President of Blue Line Futures Baruch told CNBC. “The ultimate upside is $11,500 to $11,800.”
The total market cap of cryptocurrencies rose to about $432 billion, at the time of writing, from about $397 billion on Monday.
The total cryptomarket cap has nearly doubled in just under two weeks, pointing to renewed demand for cryptocurrencies, supporting a rebound in large-cap cryptos including Ethereum, Ripple XRP’s, Bitcoin Cash and Litecoin.
Ripple XRP rose 8.24% to $0.93408 on the Poloniex exchange, while Ethereum rose 11.27% to $707.95. BCH/USD rose 5.87%, While Litecoin rose 9.87% to $164.84.
Related Articles
DASH Mining Guide: How to Mine DASH Cryptocurrency
Crypto Trading Tips: Fibonacci Retracement Indicator and How a Crypto Trader Should Use it
Grayscale Snags SPDR Gold Player to Help It Boast Its Crypto Presence
