Bitcoin has again crossed the $8000 rubicon, and is up some 5% this morning.
Ethereum is also up over 5% after dipping yesterday, and Ripple is up a more modest 4%.
Even smaller coins like EOS, Tron, Litecoin and others are also in the green.
For instance, LTC is trading at an impressive 9% increase.
“At press time, the total market capitalization of all cryptocurrencies is $249.5 billion, less than 7.8% higher than the value it reported a week ago,” writes Adrian Zmudzinski this morning at Cointelegraph, noting that a green tide for crypto seems to be lifting nearly all boats.
Sadly, for fans of Craig Stephen Wright, Bitcoin SV is one of the few coins that is not experiencing gains this morning.
However, BSV holders don’t really have much to be sad about, given the coin’s spike earlier this week as BSV doubled its value overnight.
“At 13:15 UTC, the price (sic) 11th largest crypto by market cap rank reached a 24-hour high of $139.31, a figure more than 120 percent higher than its UTC opening price of $62.99, according to CoinMarketCap data,” reported Coindesk’s Sam Oiumet May 21. “On some exchanges, however, BSV’s sudden price surge was even more drastic, increasing as much as 214 percent to reach $195 in the BSV/USDT market on the Singapore-based cryptocurrency exchange Huobi Global. …
The surge is due in part to the announcement that Craig Wright has registered copyright claims on the Bitcoin Whitepaper and original code and promised to revert the copyright to the Bitcoin Association.”
Some analysts looking at current growth acknowledge that the surge follows a correction.
“Crypto markets have rebounded as another correction gets quashed,” writes Martin Young at NewsBTC. “The big dump from yesterday was expected to accelerate today and throughout the weekend but Bitcoin and its brethren appear to have settled at higher levels of support and have even started to rally again. Total market capitalization as a result is back over $240 billion.”
Look for what’s next in crypto – now may be a time to pursue profit taking.
