Bitcoin’s Total Market Value Of 154.5 Billion US Dollars Hit This Year’s New High Blockchain Sector Closed Up

On Monday morning (27th), Beijing time, the largest cryptocurrency bitcoin in circulation had soared to $8910.43, the highest point since the beginning of the year, and so far this month has soared nearly 70%. Benefiting from the surge in bitcoin, other cryptocurrencies, including Ethereum, Litecoin, Bitcoin cash and Ripple, have also risen.

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It is worth noting that behind the rise of Bitcoin, there is a sharp increase in trading volume. According to CoinMarketCap, total bitcoin transactions have increased by $10.3 billion over the past 24 hours. In addition, the total market capitalization of all cryptocurrencies has risen to $268.1 billion, the highest level since August 3, 2018, while the market capitalization of Bitcoin has increased by $6 billion, indicating the total capital and investment of cryptocurrencies. It is still going on.

At present, Bitcoin has been firmly locked in the resistance level of $9,650. The last time this resistance occurred was on April 30, 2018, 13 months ago, which means that the price of Bitcoin will still rise sharply, exceeding 10,000. The psychological price of the dollar.

According to a Bloomberg report, some mainstream companies have become more interested in cryptocurrency technology and have encouraged investors in cryptocurrencies. For example, Fidelity Investments is finalizing plans to buy and sell encrypted assets for institutional clients, E*Trade Financial Corp. Also ready to allow transactions in cryptocurrencies. In addition, AT&T, the largest fixed-line telephone service provider in the US and the largest mobile phone service provider, said the company will allow customers to use the payment processor BitPay to pay online bills. Affected by these positives, Bitcoin has soared nearly 70% this month.

eToro senior market analyst Mati Greenspan wrote in a report last Friday: “Users can use bitcoin payments more easily, meaning that many cryptocurrencies will be used more widely. Now We may be very close to the turning point of the cryptocurrency.”

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The “Daily Economic News” reporter noted that Bitcoin has experienced an amazing rebound this year after experiencing a big drop last year. The bulls are now betting that they believe that as more and more institutions begin to create their own cryptocurrencies or use projects based on blockchain technology, this uptrend may continue.

However, investors have not forgotten the pain, they still remember the collapse of many cryptocurrencies such as Bitcoin last year, and not everyone thinks that cryptocurrency assets will be widely accepted as supporters hope. . Bloomberg analyst Mike McGlone wrote in a report that there are signs that the cryptocurrency is rising too strongly, and cryptocurrency trading has lagged behind the broader market, indicating market-to-price Further rise is cautious.