The past 24 hours were positive for cryptocurrencies. The price of Bitcoin has increased for a couple of percents and went from $6,400 to $6,700, recording an increase in its daily volume. With this, the valuation of the total market cap rose from $210 to $215, adding $5 new billion in the price mostly from the surge in the price of tokens.
Speaking of, some of the tokens that stole the show with their surges included the Ethereum-based tokens such as Aion, ICON, and Wanchain which all recorded solid gains (from 10% to 20%) against the US dollar and Bitcoin, showing decent momentum.
The five largest cryptocurrencies by the total market cap which include Ethereum, Ripple, Bitcoin Cash and EOS (with Bitcoin as the first one) have all struggled to demonstrate a major recovery in the volume and price. Aside from Bitcoin’s gains – which we mentioned before – the rest of the top 5 altcoins closed the day with minimal (0.3% to 1%) gains.
Currently, the analysts hope that Bitcoin will finally surpass the (crucial) $7,000 mark. Even though it may take some time for the major cryptocurrency to do this, BTC will likely initiate a surge in the short-term.
Right now, it is more likely for Bitcoin to test the $7,000 mark in the next couple of days – rather than to drop back to the lower end of the $6,000 region. Still, there are investors that expect another correction before Bitcoin initiates a mid-term rally.