Tanya Abrosimova
Independent Analyst
- All major coins are roaring higher on Friday.
- Bitcoin heads towards $7,000, ETH and XRP follow the suit.
The cryptocurrency market is on fire as Bitcoin and all major altcoins register double-digit gains mid strong bullish sentiments triggered by a combination of technical and speculative factors. Massive fiscal stimulus programs launched by global central banks and general recovery on the financial markets might have also inspired the upside correction of digital assets.
The total market capitalization has jumped to $191 billion. The average daily trading volumes climbed to $189 billion, while the Bitcoin market share returned above 65%.
Top-3 coins price overview:
Bitcoin came close to $7,000 (at the time of writing intraday high is $6,951) The first digital coin has gained nearly 25% in recent 24 hours and dragged the whole cryptocurrency segment higher A sustainable move above $7,000 resistance reinforced by SMA100 4-hour will increase the upside potential and bring SMA100 daily at $8,250 back in focus.
Ethereum staged an impressive recovery from the intraday low of $133.80 to $153.31. While the second-largest virtual coin has retreated to $151.50 by the time of writing, it is still 25% higher from this time on Thursday. ETH is moving within a strong bullish tend in lockstep with Bitcoin.
Ripple's XRP settled well above $0.1700 following the general trend on the market. At the time of writing, the third largest coin is changing hands at $0.1750, which is 16% higher on a day-to-day basis.
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