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Crypto Market Spiking, Gaining $29 Bln in Capitalization, BCH Becomes #4 Top Coin

  • Yuri Molchan
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    On Thursday, December 20, the crypto market continues with the corrective rally that started a few days ago; however, experts believe this may end soon enough


Crypto Market Spiking, Gaining $29 Bln in Capitalization, BCH Becomes #4 Top Coin
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The market has been in a corrective rally for nearly a week already. During this time, the overall capitalization of the crypto market has risen by nearly $30 bln, now totalling $129 bln. For five days Bitcoin has been gradually going up, now trading at $4,024, as per CoinMarketCap. The major cryptocurrency is pulling all other assets up along with it.

Bitcoin Cash hits place #4

For the first time recently, BCH has returned to the place it had occupied earlier among the top-10 coins. The market cap of this asset — $2 748 376 700 at the time of writing — has let it climb to position 4, leaving Bitcoin Cash SV behind in place 9.

BCH is now trading at $156,87 after a rise of 37.23 percent over the last 24 hours. On the top-ten list, this is currently the biggest gainer of all.

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It is followed, far from closely though, by BCH SV, with a rise of nearly 10 percent.

The lowest winners today are Tether (+1.01 percent) and Litecoin (+3.00 percent).

Analysts expect rebound to be short-lived

Despite the good news, some high-end crypto traders and analysts working with technical charts believe that this bull run is brief and should end soon.

The Crypto Dog analyst on Twitter warns that even though we are witnessing a small recovery, this is most likely to reverse.

Top-20 coins on the rise

Among the lower rank of crypto coins, the biggest gains are shown by Ethereum Classic (+12.26 percent) and NEM (+9.37). It is closely followed by recent top gainer Waves, which so far is now showing only a 9.18-percent spike.

The minimum growth rate among these ten coins, from Cardano to Zcash, is 5 percent with only NEO showing +4.75 percent.

 

Cover image via u.today
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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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