Bitcoin Price Approaches $7,000, Crypto Market Cap Exceeds $200 Bln

  • Yuri Molchan
    📰 News

    Bitcoin price is showing a steady growth, having reached the $6,800 mark and aiming at $7,000


Bitcoin Price Approaches $7,000, Crypto Market Cap Exceeds $200 Bln
Contents

Over the last 24 hours, the Bitcoin price has added nearly 9 percent. On Saturday morning it closely came to the $7,000 level, trading at slightly over $6,800.

Bitcoin price aims at $7,000

Currently, BTC has rolled back a little, sitting at $6,791. The overall capitalization of the crypto market has got over the $200 bln mark – this was the value the market saw in November last year.

At press time, the BTC market cap totals $120 272 294 110 which is nearly 60 percent of the total cryptocurrency market cap.

The top ten currencies are also growing but quite moderately compared to Bitcoin. The top gainers here today are Stellar (+3.88 percent), Cardano (+3.69 percent) and Litecoin (+3.69 percent). They are closely followed by Ethereum (+2.83 percent), trading now at $178.82.

https://coinmarketcap.com/

 

👉MUST READ

SEC to Review New Cryptocurrency ETF Application. Will It Get the Green Light?

SEC to Review New Cryptocurrency ETF Application. Will It Get the Green Light?

Bitcoin price forecasts

Overnight, Bitcoin managed to jump from its high of $6,400 to $6,800 – this looks like the new bull run predicted and anticipated by many prominent crypto investors and traders.

On May 10, U.Today reported that Mark Yusko, the founder of Morgan Creek Capital hedge fund, made a bold prediction that eventually Bitcoin will reach $400,000 as it will become a replacement for gold. This will happen, he says, in ten years or even later.

Also, the famous investor and venture capitalist Tim Draper told Fox Business in an interview that in about four years or so Bitcoin will take up 5 percent of the total market share of the Earth.

The price that Bitcoin is going to hit per Draper is slightly more modest - $250,000.

Cover image via www.123rf.com
Only the most important posts per day. Infographics, analytics, reviews & summaries. Follow us on Facebook!

About the author

Yuri has worked in crypto since 2017. A translator, quickly became a crypto enthusiast. He has worked for several Telegram channels covering cryptocurrencies. Currently is a news writer, covering crypto and blockchain-related topics.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings