Crypto Market Cap Briefly Hits $300 Bln Following Bitcoin’s Bullish Trend

Crypto Market Cap Briefly Hits $300 Bln Following Bitcoin’s Bullish Trend
The cryptocurrency market has hit an important milestone following Bitcoin’s (BTC) sudden surge. Bitcoin along with other altcoins that were affected by its bullish trend collectively increased the market cap up to $300 bln. This the highest point in more than a month while the current $295 bln at the time of writing this article.

A new bull run?
The substantial increase in market capitalization is obviously the result of Bitcoin’s shocking 10 percent spike. Some experts refrained from making optimistic predictions and consider it a fluke explaining that caused by short sellers covering were massively buying Bitcoin in order to cover their losses. However, there are also substantial reasons to believe that this bullish trend will continue in the future, since this week’s news cycle was dominated by new regulatory efforts, BlackRock’s tentative crypto foray and new Coinbase listings. Investors regained interest in crypto which made Bitcoin’s value to skyrocket up to the $7,500 mark.
Future predictions
Stemming from the fact that the crypto market is extremely volatile, it is rather hard to make long-term predictions. However, there seems to be a consensus among many experts the market cap may double or triple its value in the nearest future.
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By Mel...

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