Over the last month, the cryptocurrency market was on a hot streak, rising about 38% as investors piled into crypto assets such as Bitcoin (available on Coinbase) and other popular alternatives like Litecoin (available on Coinbase), Ripple (available on Binance)’s XRP, Ethereum (available on Coinbase), Bitcoin (available on Coinbase) Cash, and EOS.
Crypto Market Capitalization Hits New All-Time High
At the beginning of the month, Bitcoin (available on Coinbase) (BTC) price surged, taking analysts and traders by surprise as to what might have caused the sudden increase in price. However, analysts are unsure whETHer the cryptocurrencies will hold their recent gains. But considering Bitcoin (available on Coinbase) has managed to maintain the price above $5,000, it shows signs of strength that the growth will continue.
This week the crypto market capitalization of Bitcoin (available on Coinbase) and another 2,000 cryptocurrencies hit $186 billion, an all-time high for this year. Apparently, Bitcoin (available on Coinbase) makes up almost half of the crypto market capitalization, with over a $90 billion market cap. Crypto analysts have labeled the sudden rally as the ‘Altseason’ because of the double-digit gain made by the smaller cryptocurrencies.
Bitcoin (available on Coinbase) will Exceed $20,000 Price in a Few Years
The recent rally has been seen by industry players as good news, and it is a result of various developments in the crypto industry. This week the price of cryptocurrencies continued to grow following the launch of the Coinbase crypto card in the UK. Also, most of the major cryptos maintained their sTron (available on Binance)g positions because of bullish comments from analysts and industry watchers, which caused a surge in sentiments allowing the coins to maintain the high prices.