Virtual currency markets have seen a major spike over the last day. The estimated gains amount to a whopping 20 billion dollars.
13 May was characterised by a flurry of activity on the part of cryptocurrency markets meaning that Bitcoin along with other cryptos are finally back on their horses. Traders were swarming to exchanges, which generated huge crypto trade volumes. As a result, as of the early morning of 14 May, Bitcoin’s price surged to around $8 250. Although this was followed by a loss of $250 in an hour time, subsequently, the price has seen a noticeable recovery and currently, 1 BTC is trading at about $8 160.
Over the same time frame, the value of Bitcoin Cash rocketed to $400. This figure was barely subject to significant fluctuation throughout the whole day (14 May). So currently, BCH keeps retaining its new high position and proudly stands at around $400. Interestingly, Bitcoin Cash has proven to demonstrate exceptionally good performance. These last days have added as much as 44% to the coin’s value.
Yesterday’s crypto bullish trend didn’t fail to affect Ethereum, the second biggest coin by market cap ($21.7 billion). ETH saw the gain of over 6% and at press time, it is trading at approximately $207 per one coin.
With the $15.2 billion market capitalization, Ripple secured itself the third place in the crypto hierarchy. Unlike other cryptos, the XRP upward trend gained momentum on 14 May. As a result, the coin crossed the $0.40 price mark. Currently, 1 XRP is worth $0.38.
Litecoin’s price increased by only 3.8%, with 1 LTC costing about $89.
Big Companies Have Faith in Crypto
Crypto enthusiasts speculate that these last extremely ripe days in the crypto world mark the start of an aggressive bullish trend for Bitcoin. That said, another landmark stage of BTC’s comeback – $10 000 – might well be right around the corner.
With giants, such as Starbucks and Facebook planning to come into crypto play soon, things are likely to be taken to a mass adoption level much sooner than it seems. For instance, before long you will be able to buy coffee and foods with Bitcoin in Starbucks shops as well as own a Facebook coin.
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