Bitcoin price broke above the $51,700 but lack of buying at higher levels
Bitcoin price has surged past the $51,000 mark, and most of the market has also been bullish. At press time, BTC is changing hands at $51,750, recorded a 7% increase in the past seven days.
BTC/USD 4-hour chart | Source: TradingView
Bitcoin price surpasses $51,000, leading to the growth of many other coins
Bitcoin price today recorded a peak of $51,765.77, up 3.62% from 24 hours ago. Bitcoin closed out the weekend with a jump to $51,911, its highest price since May 12th. The rising interest on the more volatile and (mostly) higher gaining altcoins has allowed $BTC to slowly & steadily grow as short-term traders FOMO elsewhere.
Source: Santiment
Now, it seems that Bitcoin is struggling to sustain above $51,700 but that has not stopped the altcoins from following in ETH footsteps after the top-ranked altcoin hit $4,000 on September 3. This has pushed Ether’s market dominance above 20% while Bitcoin’s dominance has shrunk to 41.1%.
The good news of the day is according to DataNews, the Belgian application – Seety – enabled clients to purchase parking tickets with Bitcoin. As of the moment, the offer applies only to the cities of Brussels and Antwerp. Customers who want to take advantage of the new crypto option should purchase Seety credits via the app. Currently, they can employ seven different cryptocurrencies. Namely, those are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Dogecoin (DOGE), Dai (DAI), and USD Coin (USDC).
In the market, up to 83/100 coins increased in price compared to 24 hours ago. In which, the highest increase belongs to Quant (QNT), up 45.38% on the day. On the downside, Revain (REV) lost 10.04% in the last 24 hours.
The overall cryptocurrency market cap now stands at $2.338 trillion.
Read more:
- Crypto Is Far From Being A Bubble, Can Bitcoin Replace Gold?
- Bitcoin Price Has Risen Above $50,000, Trying To Hold Steady After Being Stuck For The Past Week