Bitcoin recovered the $8,500 level on Friday and touched $9,300 on Wednesday. This is the highest since November 25th last year.
While the stock market showed a decline due to the spread of Corona virus, the value of cryptocurrency as a digital asset has been confirmed again. As Bitcoin and other major cryptocurrency currencies have been on the rise.
According to the CoinMarketCap on Monday morning, Bitcoin rose steadily overnight. It rose to $9,374 after surpassing $9,000. The price of bitcoin on the foreign cryptocurrency exchanges, such as Upbit and Bithumb, has yet to reach $9,300. But it is positively on the rise.
Bitcoin price recovered
The gown-bed bitcoin, whose global instability is spreading, surpassed $9,000, the highest in the past three months. Source | Coin Market Cap
Along with the rise of bitcoin, cryptocurrency bills at the top of the total are also rising. Etherium (ETH), Ripple (XRP), Bitcoin Cash (BCH) rose by around 3 to 4 percent. Kardano ADA sits at the 10th , ETC of 11th, and Tron (TRX) of 12th place.
Thanks to the advance of top cryptocurrency currencies in the total, bitcoin Dominance came down to 66.4 percent. The Dominance Index, which represents the portion of bitcoin in total cryptocurrency, was 68 percent just days ago.
The “Fear & Greed Index” of “Alternative,” an indicator of the investment risk of cryptocurrency, also improved to 54 on Tuesday from 50 the previous day.
Last month, CoinMarketCap posted 37 for fear, which is on the brink of extreme terror, but is now neutral. The index represents the extreme fear of the market as it approaches zero. And the nearest 100 represents optimism.
If the stock market’s famous saying “Buy a fear and sell it to joy” is substituted for the index, it will have to sell bitcoin and other cryptocurrency bills after they are raised.
Continue reading on the second part of this article.
