The crypto markets are back in the green again following solid weekend buying which has increase market capitalization by almost five percent.
Total crypto markets’ cap is back up to just below US$270 billion[AU$420 billion] as a weekend rally has added $12 billion back to the space. It has been a totally different scene from last weekend.
Bitcoin has been slowly grinding higher as it approaches that psychological five-figure barrier once again, and its brethren are getting a boost.
By Monday morning, BTC prices had reached an intra-day high of $9,950 before pulling back slightly. It is currently poised to take $10,000 once again.
The weekly candle had closed green again which indicates a continuation of the longer-term uptrend. Bitcoin must make a new higher high above $10,500 for this to be confirmed, however.
Analysts have noted another gap formation on the CME futures chart which will need to close.
— CryptoHamster (@CryptoHamsterIO) May 18, 2020
Altcoins are also making solid gains today with Ethereum at the top of the performance pile adding seven percent on the day to reach $215.
Bitcoin’s two smaller siblings, BCH and BSV, are also performing well with gains of around six percent while Zcash is the top of the chart in terms of performance with a 10% surge.
Featured image courtesy of Jason Briscoe/Unsplash