Green is the predominant color in the cryptocurrency markets, with some massive gains across the leading cryptos. Bitcoin marked a new yearly high of above ,700, while Ethereum exceeded above the 0 level.Bitcoin Rejoice At A New Yearly HighBitcoin’s first days in July were rather dull as it traded sideways in a tight range. It appears, however, that the primary cryptocurrency doesn’t want to repeat this dullness in August. During the past three days, BTC headed upwards from about ,100, where it primarily traded yesterday to a new yearly high marked just minutes ago of ,730 on Bitstamp.BTCUSD 5m. Source: TradingViewWith this bullish breakout above the resistance and previous yearly high of ,400, Bitcoin has dismissed the arisen fears that it may head for a correction because
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Green is the predominant color in the cryptocurrency markets, with some massive gains across the leading cryptos. Bitcoin marked a new yearly high of above $11,700, while Ethereum exceeded above the $350 level.
Bitcoin Rejoice At A New Yearly High
Bitcoin’s first days in July were rather dull as it traded sideways in a tight range. It appears, however, that the primary cryptocurrency doesn’t want to repeat this dullness in August. During the past three days, BTC headed upwards from about $11,100, where it primarily traded yesterday to a new yearly high marked just minutes ago of $11,730 on Bitstamp.
With this bullish breakout above the resistance and previous yearly high of $11,400, Bitcoin has dismissed the arisen fears that it may head for a correction because of the CME gap that was left open at $9,600. However, it remains to be seen if the asset could successfully close about $11,600 and aim for the psychological level of $12,000.
Interestingly, the price increase comes shortly after Russia passed a bill that prevents Russians from using BTC as a means of payment.
Altcoins Follow Their Leader
Bitcoin wasn’t alone on its way up as most altcoins followed suit. Ethereum increased its value by over 7% to $357, while Ripple continued its weekly surge by another 8% gains to $0.266. Thus, XRP has surged by 30% in the past week from $0.20.
Bitcoin Cash and Bitcoin SV were also on the move by 7% and 12%, respectively. Litecoin, EOS, Stellar, and Monero increased their positions similarly – around 5%.
While their 24-hour gains are impressive, Ampleforth is in a league of its own. After consecutive days of tanking, AMPL is up by over 70% now to above $1.20, meaning that its protocol can start rewarding investors with tokens (positive rebase), once again, if the price holds above $1 on a daily average.
The double-digit increase club also sees Swipe (20%), Aurora (15%), Synthetix Network (11.24%), and Zcash (10.5%). Contrary, Digitex Futures (-22.5%), Elrond (-13%), and Bancor (-11%) are the worst-performing top 100 coins in the past 24 hours.
Nevertheless, the impressive gains amongst most digital assets have increased the total market cap by 4.5% since yesterday, from $327 billion to $342 billion.
