Bitcoin was trading above $45.300 for some time on the morning of February 8.

After a considerable price drop in early January, the first cryptocurrency is back on the rise. On Tuesday morning, according to CoinMarketCap, BTC reached $45.385, after which a slight decline began. As of 9 a.m. (GMT+2), BTC is trading around $44.800.

Bitcoin Hits $45.000

Over the last week, Bitcoin quotations grew by more than 16%. The first cryptocurrency is recovering its position after falling to $33.000 at the end of the previous month. Following BTC, the market is also growing. These tokens demonstrate the best daily performance: 

  • SHIB (~22%);
  • XRP (~19%); 
  • MATIC (~10%); 
  • LTC (~9%). 

The total cryptocurrency market cap exceeded $2 billion for the first time since the end of January. According to trader Justin Bennett, who expressed his opinion in a YouTube podcast, Bitcoin will meet a serious resistance level of $46.000 after reaching $43.000. If the bulls can overcome this level, the price of BTC will grow up to $50-53.000 and even enter a rally phase.

Author: Mark Wallerstein
#Bitcoin #Cryptocurrency