The price of Bitcoin has rebounded to more than $11,050 right now which marks another 5% daily gain and positively affects the entire cryptocurrency market. In times where most of the cryptocurrencies are rising, Bitcoin is also strong and has contributed to the market cap of $500 billion.
The past 24 hours were great for the leading cryptocurrency as more than $20 billion were traded in only one day. The daily trading volume has exceeded the expectations across many cryptocurrency exchanges including the names of Bitfinex, Bithumb, Binance etc.
Currently, Bitcoin shows that it is ready to get closer to the all-time high of around $20,000 that was achieved just before new year. However, the first milestone is $12,000 and then $13,000 which many investors look forward to.
In South Korea, the Bitcoin trading hit a monthly high – more than 80,000 bitcoins were traded in only 24 hours. One of the largest news portals in South Korea, HanKyoReh, has reported that the demand is increasing – which is the first time since mid-January.
The fear of missing out (FOMO) has been one of the top reasons why people invest more money in Bitcoin lately. Given that the leading cryptocurrency sustained its momentum, it became popular again, led by markets like Japan and South Korea.
The past certainly doesn’t predict the future in this case. However, the past couple of days showed great for Bitcoin as well as other altcoins.
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