Finally, Bitcoin touched $4,000 briefly on Bitfinex as it inches close to hitting a new high of 2019. The leading cryptocurrency registered significant gains today as according to the data provided by Coinmarketcap, Bitcoin is up by 7.76 percent in the past 24-hours.
Bitcoin price 5-days chart, Source: Coinmarketcap
However it’s just not Bitcoin that is enjoying the greens, the entire crypto market is euphoric as altcoins go surging as usually is the case in a bull market.
EOS and Bitcoin cash (BCH) are the top gainers among the top 10 cryptocurrencies with over 20 percent gains, followed by Ethereum (ETH) that is up by about 16 percent. Meanwhile, today’s highest gainer is WAX and Veritaserum that are up more than 33 percent. Ark is the highest loser with 13 percent losses while Aurora and Powerledger are in the red by about 2 percent.
The total market cap added $12 billion in about a day while the daily trading volume hits $31.5 billion.
Meanwhile, the analysts at Cambridge Associates, a consultant for pensions and endowments said in a note as reported by Bloomberg that investors should consider investing in cryptocurrencies.
“Despite the challenges, we believe that it is worthwhile for investors to begin exploring this area today with an eye toward the long term. Though these investments entail a high degree of risk, some may very well upend the digital world.’’
It has been further added in the note that, “The dramatic declines that swept across the crypto space raised questions about the future of these assets and the blockchain technology that underpins them.