Bitcoin is edging closer to its historic bull run of February, breathing peacefully at $54,000 at the time of writing. In the last 24 hours, the global crypto market cap has gained 6 percent and is within touching distance of its $1.76 trillion evaluation that was recorded on 21st February.
As per analytics group, Nomics, trade volume for the global crypto space went up by 17.75 percent and the bulk of these gains came courtesy of the strong performances from Bitcoin and Ethereum.
Ethereum showed significant traction, surging past $1,800 with a 7.6% gain, surpassing BTC by a hair. It was an almost identical picture in the lower markets – projects valued between $10-$40 billion. Binance Coin jumped 5.5 percent, Polkadot 4.9 percent and, Litecoin and Chainlink up 8 percent apiece.
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Now, why are crypto markets so bullish as of late? It appears that mainstream interest from big-time investors remains as strong as ever.
Marketing analyst Edward Moya told Bloomberg that “Bitcoin and Ethereum bullishness are back as more big-money bets keep flowing into cryptocurrencies”.
Given the amount of attention that’s being given to the crypto streets, it isn’t difficult to see why Bitcoin is up almost 600 percent since December 2020.
