Bitcoin had its price tumbling over the past week due to China's crypto ban


Saturday saw the leading cryptocurrency by market cap trading in green once more after gaining 9.05%. The impressive mood in the market had Bitcoin standing at $47,570. That way, the coin surged 11.3% in the past seven days.

Also read:
EcoMarkets Review – Is EcoMarkets Scam or a Proper Broker?

Meanwhile, Bitcoin experienced a plummet following the crypto ban by China. The news not only affected the Chinese market but the overall global markets. However, some market players maintained positivity, predicting upsurges in the coming sessions. For now, Bitcoin and other cryptos have recovered losses incurred in the past few days.

BTC's rival Ethereum also surged 8.9% to hover at $3,236. The altcoin is 11.9% up since last week, while its market capitalization stands near $386.2. However, the top ten had mixed reactions in the past sessions. Cardano (-6.8%) and Tether (0.05%) have traded low since the past week. Yesterday, ADA traded at $2.21 after gaining 5.51% - its market cap hovered at $70.77 billion. Meanwhile, Tether surged only 0.02% to the $1 mark. Tethers has its market cap standing at $68.07 billion.

The crypto market continues to rise despite the recent plummets attributed to Chinas tighter moves on all digital assets. However, altcoins like Solana (+23%) and Avalanche (+52%) took advantage of the September market downbeat to record double-digit surges. CoinDCX Research Team reveals that the total market cap is on a clear road to hit the target of $4.95 trillion come 2030. BNB maintained an uptrend, gaining 7.6% to $414.8. With that, Binance Coin has its market cap neat $70.21 billion.

Also read:
ElitSolutions Review – Is ElitSolutions Scam or Legit?

Though the pretty volatility last week, the crypto market seems to end this week on a loss as far as week-to-week is concerned. For now, most analysts believe that volatility will dominate in the coming seven days. 

Coinmarketcap data shows the overall market capitalization at $2.08 trillion following an 8% surge in one day. Meanwhile, the 24-hour market volume hovers at $117.2 billion, a 31.6% upswing.

While writing these lines, the crypto heat map shows green dominating the red areas. If the market retains its current outlook, it will record higher highs in the remaining three months of 2021. 

 

HOME | WHAT'S NEW | AUTHORS | CONTACT US | LINKS | SITEMAP | INVESTING ARTICLES
THE HOOVER INSTITUTION