Home / Altcoins / Crypto Market Update: Crypto Market Rallies As Bitcoin Surges Past $5,800

Crypto Market Update: Crypto Market Rallies As Bitcoin Surges Past $5,800

The cryptocurrency market is enjoying its recovery as bears stay back to give the bulls room to stretch following a long bearish momentum. The market is usually in green on today. The slight correction can be seen overall, with assets earning 0.5% to 7% (20 best-selling cryptos).

Bitcoin is in recovery mode and the majority of major altcoins are showing strong gains. Total market capitalization increased from $ 175 billion Thursday to $ 186 billion. Average daily trading volumes are $ 100 billion.

Recently, the flagship cryptocurrency has slowly moved to and past the auspicious $5,800 price point.

On May 3, 2019, the market capitalization of bitcoin rose from $ 97.1 billion to $ 103.7 billion, with a staggering $ 6.6 billion added in a matter of hours. The recent price increase is the highest in 5.5 months and comes much earlier than expected by many industry influencers. $ 6,000 is considered psychological resistance and Bitcoin is ready to test this hurdle.

Top-3 Coin Price Overview:

Bitcoin surpassed $ 5,800 at the time of writing. The largest digital coin in the world is in a short-term bullish channel in the face of rising volatility.

The second largest virtual coin gained about 5.10% and managed to settle above $ 169.00. Ethereum opens with 163.39 USD before moving to 162.17 USD. This movement has improved the technical situation in the short term.

Ripple’s XRP ranges at $ 0.3108, since Thursday. The third largest piece was recently set aside despite the recovery of other major pieces. XRP / USD bulls trading 2.00% percent up at the time of writing.

The biggest players in the market:

Cosmos (ATOM) retains the position of the best-performing cryptocurrency among the top 20. At the time of writing, Cosmos is changing hands at $ 4.93 with 10% increase within 24 hours, including more than 12 wins in the past 24 hours. The total market value of the coin is recorded at $ 939 million, over 10 million surged in the past 24 hours.

The Tezos (XTZ) has gained nearly 7% since Thursday to become the second fastest growing play of the day. It occupies the 16th position in the world ranking of cryptocurrency with a market value of 867 million dollars.

Binance Coin (BNB) rose 6% on a today to $ 23.52 at the time of writing.

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About Steve Anderrson

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates:

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