The price of Bitcoins and a number of digital assets rose sharply on Monday, while the overall market capitalization of the crypto economy rose 2.4% in the past 24 hours. Bitcoin broke through the $50,000 psychological zone and reached a low of $43,021 on Sunday.

• Bitcoin (BTC) reached a new high on Monday, 1. March, peaked at $50,244 per unit at about 7:26 p.m. (ET). At the time of publication, BTC had a total market valuation of approximately $926 billion and a global trading volume of $22.83 billion. The current price is more than 15% higher than the February 28. floor price of $43,021 each.
• Of all existing cryptocurrency assets, BTC dominates the market in terms of market valuation, from $1.44 trillion today at 61.02%. Bitcoin is down another 8% this week, but is up 44.92% against the U.S. dollar over the past 30 days.

• The second largest market cap is Ethereum (ETH), which is currently trading at $1,583 each. ETH is up 9% in the last 24 hours, but ether has lost 12% in seven days. The 30 days against the US dollar show that the ETH is up 13.19% today.
• Cardano (ADA) continues to rank third in terms of market value, as each ADA changes hands for $1.29 per unit. ADA’s rise on Monday was unspectacular, as cryptocurrency assets rose just 1.8%. However, the token rose 18% last week and 256% last month.
• The Finance Corner (BNB) is up 18% at press time and is trading at $262 per token. The NBB has fallen 4.4% against the US dollar in the past week, but the 30-day statistics show that the NBB has risen 470%.
• Stablemate (USDT) slid to fifth place this week, showing volume gains during the drop in cryptocurrency. The trading volume of the USDT is currently larger than that of the BTC (as of March 1, 2021).
• Crypto prices seem to be on the rise right now. After seeing some great bull traps last week. Bitcoin prices, especially in March, and other cryptocurrency asset markets have generally performed well this month. This is historically true, with the exception of the 12th. March 2020, which is also known as Dark Thursday.

The #Bytcoin market in 2017:

– 6 adjustments of 30-40%
– followed by an average gain of 153% pic.twitter.com/cx1M10vpKS

– Bitcoin Archive (@BTC_archive) 28. February 2021

• To many observers, we seem to be dealing with two small speed bumps on the order of 20 to 25%. A Twitter account called Bitcoin Archive noted that there were [six] corrections in the range of 30-40% in the bull market in 2017, each followed by an [average] gain of 153%.

Logarithmic growth curves for Bitcoin 1. March 2021, according to statistics from lookintobitcoin.com.

• Bitcoin appears to have returned today as the cryptocurrency markets begin the week in a refreshed frame of mind, Paolo Ardoino, the CTO of Bitfinex, said in a note to investors on Monday. Perhaps due to strong pent-up demand from institutional investors and interest from long-term investors, but only time will tell, Mr. Ardoino added.
• The Bitfinex CTO went on to say that those drawing a parallel to the bursting of the cryptocurrency bubble in 2017 may be ignoring the evolution of the technology since then. We believe that the space technology infrastructure as a whole is proving to be reliable.

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Tags in this article

50,000, 1,000 billion, ada, bitcoin, bitcoin (BTC), bitcoin cash, bnb, Cardano, crypto assets, ETH, Ethereum, winners, losers, market capitalization, market price, market update, markets, Mike McGlone, Paolo Ardoino

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