CEX.IO company blog | Bitcoin dispersed the cryptocurrency market

For the first time in history, the bitcoin rate exceeded the level of $48,000.Since the beginning of the week, the capitalization of the digital currencygrew to $ 870 billion - more than 23%. The second largest cryptocurrency in terms of capitalization, Ethereum, has grown by 12% since the beginning of the week. As of February 10, the bitcoin rate is $ 46,849, ethereum - $ 1,822.

Yuri Mazur, head of the data analysis department of the international crypto broker CEX.IO Broker, shared with Kommersant his opinion on what awaits the cryptocurrency market next.

The explosive growth of the Bitcoin rate has become a driver for the entire cryptocurrency market. It is possible that the next wave will lift Bitcoin to $50,000 - this could happen before the end of February.

Ethereum is up 8.19% on February 8th.As the immediate target for Ethereum, we see the $ 1,900 price mark, which can be reached by the end of February. In the longer term, we expect growth to $ 2,342.

We also expect to see continued growth in Ethereum, both amid rising bitcoin prices and the growth of the DeFi (decentralized finance) market, where 90% of its protocols run on the Ethereum blockchain.

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