The month of April has been showing bullish sentiments for the cryptocurrency market. Bitcoin and most cryptocurrencies are turning their heads up with new volume today, moreover, having a bullish rally continued since the earlier this month.
Is the Bear Market Really Over?
Bitcoin’s move towards $5000 has led many investors, analysts and CEOs to predict the future and bet higher on it. Given that, its forward race also picks other altcoins up with a certain percentage. Consequently, with Bitcoin, other cryptocurrencies such as Ethereum (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), EOS, Binance Coin ((BNB) Tether (USDT), Stellar Lumens (XLM), Cadano (ADA) and many others see a remarkable surge.
Nevertheless to note that crypto market in last week showed a mixed signal – but the value this week contributes as a potential starter. The new week for Bitcoin starts with budding figures of $5183 against US Dollar, quite closer to $5200. Besides Bitcoin, Ethereum also begins the week with 3.05 percent growth over the past 24 hours and presently trades at near $170 against US Dollar.
Together with BTC and ETH, an escalating drive can also be seen around other altcoins – nonetheless, BCH with 9.02%, Litecoin with 7.70% and Tezos with 19.00% (over the past 24 hours, respectively) are the top gainers among the 20 largest cryptocurrencies in terms of market capitalization.
However, the specific reasons that influenced the prices of all major cryptocurrencies might not be determined but it is worth to note that the growth in the value of crowning cryptocurrency, Bitcoin will influence the value of other altcoins.
Additionally, while BTC constantly striving to rise, famous figures in the crypto industry are busy talking bearish on Bitcoin in the near future.
As such, Arthur Hayes, CEO of the largest cryptocurrency exchange, BitMEX has recently been interviewed wherein he expresses his opinion of Bitcoin’s value in the next 2-3 years. In a podcast, Mr. Hayes states that in the near future, Bitcoin could reach up to $50000. Moreover, he also cut it down in the form of years and notes that it could have a $10000 figure by the end of the year 2019.