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Checking in with CoinMarketCap, it is clear to see that the majority of the crypto market is in the green. Though the gains are small, 80% of the top 10 coins by market cap are on the rise. Market leader Bitcoin price is up only 0.46% at the time of writing, selling for $3,924 USD per coin—but up is up.
Last weekend, Bitcoin (BTC) came close to breaching the important $4k resistance mark. Bulls were hopeful as Bitcoin price reached a month high of $3,978 USD on March 9th.
Going back to the tail-end of February, Bitcoin skyrocketed to $4,198 in a 24-hour period. Certain prominent bulls such as Brian Kelley spoke out in favor of the coin, and this helped a surge. However, ever volatile, the gains did not last, and Bitcoin slumped the following day back to $3,810 approximately.
Now, at $3,924 USD, it is nearing that stable $4k mark once again but whether it will get up, over, and stay above the hump remains to be seen.
Overall, the last seven days have shown momentum in favor of the bulls. Bitcoin price has maintained its value around the $3,900 mark and has yet to experience any significant decline or sudden correction.
The day is still young, but Bitcoin Cash (BCH) is leading the top ten with a 4.7% jump at the time of writing. There is no market news to attribute this gain too. It seems in a quiet market, this is simply the work of zealous bulls as BCH breaks above the resistance at $135.
At the time of writing, Bitcoin Cash is selling for $135.03 but with significant dips throughout the day already, it is questionable if BCH can maintain its position above the critical resistance level.
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Elsewhere, Ethereum (ETH) is having a hard time gathering momentum. It is selling for $133.64 USD, up 0.29% at the time of writing. ETH hit a low of $130 this week, amidst a week where the coin has continually declined.
Are you surprised that Bitcoin price is in green? It has been quite stable in recent weeks; will it last?
Featured Image: DepositPhotos © KostyaKlimenko