Bitcoin Rate Goes Up: What Influences The Crypto Market?
Bitcoin rate on February, 12th, on Tuesday is growing steadily, exceeding $3500.
Total crypto currency market capitalization exceeded $120 billion, increasing to $121,593 billion. Bitcoin capitalization increased by $3 billion, to the level of $64,133 billion.
On Monday, February, 11th, BTC/USD rate was at the level of $3612. Bitcoin increased by $40 in comparison with the previous day.
Bitcoin rate moves away from $3500, Bitcoin rate will keep growing after surpassing this level. Positive piece of news about the claim of the SEC representative about Bitcoin ETF makes the rate grow. The commission will approve application for Bitcoin ETF once it complies with American securities legislation.
The rates of the most liquid crypto currencies grow, too. Ethereum increased in price by 2,85% — to $119,3, altcoin’s capitalization was $12,6 billion. XRP increased in price by 0,66% — to $0,305, capitalization is $12,5 billion. Litecoin increased by 1,81% over 24 hours — to $44,1, crypto currency’s capitalization is $2,7 billion.
According to the crypto currency experts, the news from the SEC representatives will support the crypto currency market and it is expected that the crypto currencies will grow in the near future. But the market will switch to downward trend later
As it has already been reported, PayPal expert Dan Schulman claimed that Bitcoin should not be considered as a real currency. He is skeptical about wide use of Bitcoin in trading operations and notes that few retailers accept crypto currencies now.
The technology behind the digital currency is the most valuable thing. Schulman believes that the main function of cryptocurrencies is to show potential of crypto currencies.