From Thursday to Sunday, the price of Bitcoin increased daily by approximately $1,000, which led to a rapid increase in the capitalization of the digital asset to $0.5 trillion.
After Sunday's failed assault attemptlevel of $28 thousand, during which the rate briefly reached $28,370, the bulls weakened their pressure. At the time of publication, the market is undergoing a correction and BTC is trading at $26,950 with a daily decrease of 2.9%. Since the beginning of the year, the rate of the first cryptocurrency has increased by 270%.
The price increase increased Bitcoin's capitalization to $500 billion, bringing the asset closer to the value of the Chinese one.trading giant Alibaba with $ 545.4 billion
Analysts believe that the growth of the MTC exchange rate stimulatesthe printing in the United States of new dollars to mitigate the effects of the pandemic on the economy, increasing inflation, and the resulting high interest of investors in cryptocurrency as a hedging tool. At the same time, they note that on the weekend the growth took place with insignificant trading volumes.
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