It took around 24 hours for Bitcoin (BTC) to drop under $4,000 and come back to the same price level. On March 25, Bitcoin fell under $3,950 and a few hours later, it grew again and reached $4,080. This shows that there is a large number of investors purchasing Bitcoin under $4,000.
Bitcoin Remains Bullish
During the last few days, there was uncertainty in the market. Bitcoin operated stably close to $4,000 but a decreased volume didn’t seem positive for the most popular digital asset. When the market fell under $4,000 the sentiment turned negative, but things changed in just 24 hours when Bitcoin surged once again and was close to breaking above $4,080.
The total market capitalization moved from $137 billion and tested the $145 mark. This represents an increase of more than 5% in just a few hours.
In the last 24 hours, there are several digital assets in the market are registering gains. Bitcoin is growing 2.49%, followed by Ethereum (ETH) with an increase of 3.35% and XRP with 2.46% increase.
EOS was also able to surpass Litecoin as the fourth largest cryptocurrency. Indeed, EOS skyrocketed 15.55% in 24 hours and it has a market capitalisation of $3.86 billion. Meanwhile, Litecoin grew 5.25% and it has a market cap of $3.78 billion.
During the last weeks, several digital assets have performed very well among the top ten. We are talking about Litecoin, Binance Coin (BNB) and Cardano (ADA). In just a month, Cardano registered a price increase of 50%. In the last 24 hours, Cardano increased its price more than 10% after being added to the Ledger Nano S hardware wallet.
Bitcoin is currently in a very positive situation. If it is able to reach $4,200 and surpass this mark, the market could turn bullish and try to move towards $5,000. If it remains traded sideways for a longer period of time, this wouldn’t be so positive for Bitcoin.
According to the cryptocurrency analyst DonAlt, the market will be traded sideways during the next months until it reaches $6,000.
I see the notion thrown around quite regularly that if BTC can go to $4400+ that’d be the start of a bull market.
A higher low in combination with a higher high does not mean the bear market is over.
I’ll trade expecting sideways till 6k is breached.
Sell resistance buy support. pic.twitter.com/snnnjmu1wK
— DonAlt (@CryptoDonAlt) February 23, 2019
MagicPoopCannon, another crypto trader and analyst, said that Bitcoin will be traded sideways in a range between $3,200 and $4,200. Nonetheless, every single trader is expecting Bitcoin to reach new highs in the future. Now, each Bitcoin can be purchased for $4,070.