Cryptocurrencies Rise Again and Bitcoin Nears $ 50,000

Major cryptocurrencies continue to fluctuate and returned to fairly strong gains on Tuesday. WellBitcoin rose again above $49,000.

However, the news background for the marketturned out to be rather negative. Thus, investors of the Da Vinci Capital fund sent Pavel Durov a notice of intention to file a lawsuit against TON and Telegram. They are demanding compensation for a failed cryptocurrency project. If compensation is refused, investors threaten to file a lawsuit in London within two weeks.

In addition, China has proposed to ban mining.In the Inner Mongolia region, an initiative is being considered to restrict activities in industries with high energy consumption, including the mining of cryptocurrencies.

At the same time, a positive signal for the market wasnews that Japanese e-commerce giant Rakuten has made it possible for its customers to pay with digital assets at thousands of merchants in the country.

Against the backdrop of all these events, the Bitcoin exchange rate per day,according to Forex Club, increased by 5.1% - to $48,917 with a capitalization of $916.2 billion. Ethereum rose in price by 8.9% to $1,569 with a capitalization of $180.9 billion. XRP increased in price by 5.5% to $0.4411, its capitalization amounted to $20.1 billion. Litecoin strengthened by 5.1% to $173.5 with a capitalization of $11.6 billion.

The total capitalization of the crypto market reached $1.51 trillion.

Probably in the short term, market dynamicswill continue to be very volatile. It is possible that Bitcoin will soon be able to return above the $ 50,000 mark, Ethereum has a chance to rise to $ 1,600, XRP - to gain a foothold at $ 0.45, and Litecoin - at $ 175.

Analytical group Forex Club – partner of Alfa-Forex in Russia