Bitcoin increases by 12 % weekly, BCH records an increase of 25 % in one day (market observation)

Bitcoin increases by 12 % weekly, BCH records an increase of 25 % in one day (market observation)

In the last 24 hours the market has become green, with most cryptocurrencies recorded significant growth.

Some of the reasons for the increase could be the recently submitted ETF application from Blackrock, followed by those of Wisdomtree and Investco, as well as the fact that the EDX, supported by Wall Street, has just gone live.

let us dive.

The price of Bitcoin increases to $ 29,000

After a short phase of stability and consolidation, the market participants seem to have decided on one direction. The Bitcoin Prize rose overnight in some impressive green candles to $ 29,000, as shown in the following graphic.

TradingView

The price is currently around $ 29,000, which corresponds to an increase of around 7.8 % in the last 24 hours alone. This means that the weekly increase of Bitcoin is about 11.5 %.

Interestingly, its dominance compared to the rest of the market rose by around 2 % in the same period. It shows the current strength and dynamics of Bitcoin, which is obviously stronger than that of most old coins.

The reasons for this can be varied. Blackrock, Investco and Wisdomtree submitted applications for spot-bitcoin ETFs for the SEC. Edx-A cryptocurrency exchange supported by Fidelity, Charles Schwab and other Wall Street heavyweights has gone online today.

old coins slow down, but Bitcoin Cash (BCH) explodes

The Altcoin market takes up the profits of Bitcoin slower, but there are some remarkable exceptions, of which Bitcoin Cash (BCH) is the wildest. The cryptocurrency has increased by a whopping 25 % during the day, which makes it the best performer on our list.

A reason for this could be that EDX (see above) will initially only trade BTC, LTC, ETH and BCH.

In any case, the market currently looks like this:

Coin360

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