- The entire market capitalization shot to levels above $180 billion in April.
- Fundamentally the market remains strongly bullish.
- Bitcoin is back in a positive range following last week’s loss.
The cryptocurrency market bed April a warm goodbye following the incredible performance the digital assets recorded along the month. The entire market capitalization shot to levels above $180 billion. Besides, it stands at $176 billion at press time with a total 24-hour trading volume of $41 billion.
Some altcoins like Binance Coin and Tezos rose significantly in comparison to the change in Bitcoin price. However, generally, Bitcoin’s market share increased to 54.4% compared to just above 50% at the beginning of April.
Fundamentally the market remains strongly bullish and we could see yet another breakout in the short-term. Besides, development and adoption continue to increase across the world with third world economies like Venezuela greatly warming up to Bitcoin as an alternative currency. Moreover, experts say that institutional investors who had taken a backseat following the bearish trend in 2018 are returning to the market, this is a positive sign.
Bitcoin price update
Bitcoin is back in a positive range following last week’s loss that tested levels below $5,000 before forming a low at $4,950. Before Monday’s breakout, the crypto was stuck below $5,200 key resistance level, although the downside was protected at $5,100. At present, BTC/USD is trading between a support congestion range between $5,300 and $5,400. In fact, on some exchanges Bitcoin is trading above $5,400.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Coinbase lists WIF perpetual futures contract as it unveils plans for Aevo, Ethena, and Etherfi
Dogwifhat perpetual futures began trading on Coinbase International Exchange and Coinbase Advanced on Thursday. However, the futures contract failed to trigger a rally for the popular meme coin.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
Ethereum cancels rally expectations as Consensys sues SEC over ETH security status
Ethereum (ETH) appears to have returned to its consolidating move on Thursday, canceling rally expectations. This comes after Consensys filed a lawsuit against the Securities & Exchange Commission (SEC) and insider sources informing Reuters of the unlikelihood of a spot ETH ETF approval in May.
FBI cautions against non-KYC Bitcoin and crypto money transmitting services as SEC goes after MetaMask
US Federal Bureau of Investigations (FBI) has issued a caution to Bitcoiners and cryptocurrency market enthusiasts, coming on the same day as when the US Securities and Exchange Commission (SEC) is on the receiving end of a lawsuit, with a new player adding to the list of parties calling for the regulator to restrain its hand.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?