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Bitcoin hits $10K, crypto capitalization nears $300 billion

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.
Bitcoin hits $10K, crypto capitalization nears $300 billion

Recently, the bitcoin price has surged over a key psychological level of $10,000 and extended the rally. 

Over the last couple of days, the world’s number one virtual asset has leapt to more than $11,000. Later, bitcoin has faced a minor pullback. Currently, the digital currency is enjoying a break from its recent rally. So far, it is not clear how the price spike will end. On the one hand, bitcoin jumped to a five-digit number. On the other hand, its trading volume is not growing. Therefore, it is impossible to predict further movement of BTC on the chart. It is not unlikely that the price will skyrocket. Otherwise, there is a likelihood of a massive pullback which will continue the formation of a long-term correction. At the moment, it is better to closely monitor changes in the price of bitcoin and its trading volume as these two indicators will show the exact direction of BTC in the near future.

In the meantime, the overall crypto market cap is rising along with bitcoin. Thus, the entire crypto market capitalization has already surpassed $300 billion. Despite BTC’s correction, the level of market value remains high thanks to a significant increase in the price of altcoins, primarily ethereum.

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