Bitcoin managed to go above $9,000. Even though it didn’t stay there, it is still a very significant event as Bitcoin price hadn’t been above this mark since last May. This time we saw that we have enough power to reach $9,000, hopefully, next time we will be able to stay there. During the last few weeks, more and more people are opening positions and investing in cryptocurrency. Such activity makes it even more possible to reach this goal in the nearest future.
And now let’s take a look at the way crypto capitalization changed during last year. Last June started with $330 billion in crypto capitalization. For the next 3 months, it has been declining and reached $208 billion at the beginning of September. Up until the middle of November capitalization was quite stable. Over the next month, capitalization dropped to $110 billion. From the second half of December to the beginning of April, the capitalization graph was horizontal slightly shifting between $120-130 billion. And over the course of the last 2 months, its total grew more than twice reaching $270 billion today.
Let’s also talk a little bit how this capitalization was distributed among most popular coins. Bitcoin always dominated the market. Its percentage reached it’s minimum last May at a little over 35%, but since then it recovered and is now at 56%. Ethereum dropped from holding 17% of the market to just 10%. XRP went from 7% to as high as 11% in winter outweighing even Ethereum, but now it’s back at 7%.
In general, the market looks really good now with lots of opportunities to open positions, which are successfully used by our bots.