The cryptocurrency market capitalization is close to $1.5 trillion once more as bitcoin spiked to just shy of $35,000.
The bulls have resumed control over the market in the past few days and have pushed bitcoin to a near three-week high at almost $35,000. The alternative coins have also benefited from these developments, with ETH closing down to $2,200 and DOGE sitting at $0.20.
Bitcoin Taps an 18-Day High
Ever since bitcoin bottomed at $29,200 on July 20th, the cryptocurrency has been on a roll. It bounced off immediately and reclaimed $30,000 in just a few hours.
Shortly after, more positive news from Elon Musk and Jack Dorsey emerged, which propelled significant gains in a relatively short period. The bulls kept on pushing north, and BTC added 15% of USD value in less than five days, as reported yesterday.
However, bitcoin’s leg up was not over yet, and it jumped further upwards to about $34,800 (on Bitstamp). This became the asset’s highest price line since July 7th.
As such, BTC’s market capitalization has increased above $650 billion after dumping below $600 billion earlier this week. Its dominance over the altcoins has also risen slightly to just over 46%.
