The world’s leading cryptocurrency Bitcoin seems to be on a roll. The leading tokens have crossed the $50,000 mark for the first time in the past two months. In June, the Bitcoin prices plummeted to $29,000 and on Sunday, the BTC prices crossed the $50,000 mark, representing a whopping 72% increase.
On Sunday, BTC was exchanging ownership at $50,270.00. With Bitcoin crossing the $50,000 mark, the reading token’s market capitalization is once again nearing $1 trillion. The market cap of Bitcoin is above $940 billion currently.
The market is echoing the Bitcoin price movement. Other leading altcoins like Ethereum and Cardano also demonstrated an upward trend. Cardano (ADA), Polkadot (DOT) and Solana (SOL). All these tokens have reported a 10% plus increase over the past week.
The bull is strong and experts are predicting a sustained upward trend. While there are mixed opinions about Bitcoin, many are hoping Cardano (ADA) to push its boundaries and hit a new all-time high.
In recent weeks, we have seen many favourable developments that impetus the market and trigger the prices. Institutional investors showing their confidence in alternative currencies is also contributing to rising prices.