Hi everyone! This Market Update article will focus on Bitcoin's rise out of its little dip in the past week, the stabilizing condition of the crypto market, and Steem's impressive price increase. Let's start!

Bitcoin Rising

In the past 24 hours, Bitcoin went through an impressive rise of about $300, starting from the $3670 range and rising to the $3900+ range, where it's currently trading.

At a price of about $3950 and a market cap of over $65B, Bitcoin is doing quite well. This is great news for all cryptocurrency investors/holders (especially those of Bitcoin), and it shows Bitcoin's liquidity. In the above chart/snapshot, you can see Bitcoin's gradual leveled rise, and it's delightful to see BTC out of the slump it was in for the past week.

Steem Soaring

Steem also rose, along with Bitcoin, from the $1.04 range to $1.11 and higher.

With a market cap of about a quarter of a billion dollars, Steem is still in its early stages. Many analysts and investors predict Steem to undergo a huge rise in price sometime soon, with curators like @jerrybanfield setting their value of Steem to $10. It's a great time to invest in STEEM currently.

SBD (Steem Dollars) also increased in the past 24-hours, currently at $1.03. Whenever SBD is higher than a dollar, it's a good time to trade it for STEEM or another crypto as it generally will readjust back to around a dollar.

This is great news for all Steemit users, and especially great for those who have invested heavily in STEEM.

Crypto Market Stabilizing

In the past week, the crypto market as a whole went through a slump/valley in price due to tensions surrounding Bitcoin and other factors. However, it's refreshing to see many cryptos jumping out of the dip and rising again today.

Here you can see an image of the top 10 cryptocurrencies by market cap. Interestingly, all of them went through quite a hefty rise in the past day, with NEO going through a remarkable 30% rise and LTC going through a rise of almost 10%.

Also, interestingly, all of the top 50 cryptos except for Tether (USDT) went up in the past 24 hours.

Generally, USDT is seen as an offset for the crypto market, as generally cryptos are sold into USDT. When the crypto market does well, USDT does worse because people sell USDT for cryptos, and vice-versa. This is good news for the cryptocurrency market.

Thanks for reading,
— @mooncryption

image source: All images are from CoinRanking.com, as usual :)
sidenote: Our current Electrum Bitcoin Wallet series is still going on! It's a four-part article series on the Electrum Bitcoin Wallet, which is one of the most secure, versatile, and easy-to-use Bitcoin wallets for your desktop. The first part of the series is available here, and there are links to the other available parts in Part 1. Part 4 is coming out very soon, so stay tuned!