Bitcoin Price Surges $46K while Crypto Market Tops $2 Trillion

Snapshot:


After a long wait of three months, the cryptocurrency market hits $2 trillion. According to crypto experts, the bitcoin price rally, as well as the crypto rally on a large scale, showed the global acceptance of cryptocurrency, including the Indian subcontinent. 

Bitcoin price experienced a surge and soon touched $47,000 after a long dip of three months. The top cryptocurrency since then is trading in green with a market cap of more than $848 billion as stated by CoinMarketCap. 

The remarkable Bitcoin price rally was witnessed right after the Ethereum price hike. The new ethereum upgrade, London Hard fork, is considered to be the reason behind the raised prices of ether. Various altcoins are also trading in the green while few, such as Solana (SOL) and Tron (TRX) are ready to set new all-time highs. 

The global acceptance of crypto has brought about this change where different brands are negotiating to incorporate a cryptocurrency payment gateway. The acceptance of crypto in India has also increased. Amidst all this, CoinDCX, India’s largest cryptocurrency exchange also became India’s first crypto Unicorn. All these factors have indeed resulted in the current bull run the crypto market is witnessing across the globe and in India. 

Bitcoin and other cryptocurrencies price in dollar 

 The top 10 cryptocurrencies by market cap and the bitcoin price surge after three months: 

Cryptocurrency 

Price (March 2021)

Price (August 2021) 

Bitcoin (BTC)  $56,920  $46,585
Ethereum (ETH) $1752.83 $3168
Binance Coin (BNB) $257 $422.60
Cardano (ADA) $1.23 $2.08
Tether (USDT) $1.00 $1.00
Ripple (XRP) $0.458 $1.18
Dogecoin (DOGE) $0.054 $0.3217
USD Coin (USDC) $1 $1
Polkadot (DOT) $34.08 $26.45
Solana (SOL)  $13.76 $72.09

Future predictions for the crypto market 

The current bull run in the crypto market to continue 
Rise in traffic across crypto exchanges in India 
More female participation was observed in the crypto rally in  India 
Experts believe crypto to be the most important asset class of 2021

Summing it up! 

Lately, Bitcoin prices have jumped after a long dip for three months. It reached $46,232 which was nothing short of celebratory for the crypto enthusiasts. With all the ups and downs we cannot forget how tremendously bitcoin prices have gone up this year with a total of 53% in eight months despite all the volatility. Different exchanges report that BTC whales are still adding BTC to their portfolios despite the prices which is a great sign for the entire crypto community. Experts are also concluding that the bearish sentiment is probably over since BTC has beaten its hard psychological resistance of $46,000 during this crypto rally. 

Prices/Year

2015

2017

2019

2021

Bitcoin (year closing) $465 $19,783  $11,884 $46,000
Bitcoin (ATH) $465 $19834.93 $13,880 $65,000
BItcoin (ATL) $170 $935 $3867 $30,001.51

With the positive outlook on Bitcoin, many altcoins have also performed remarkably well with Cardano (ADA) and Solana (SOL) achieving their All-time highs. SOL rose by a whopping 36% in a day making its investors cheerful. While ADA saw its all-time high of reaching the $2 mark. Ethereum has scaled up as well given its new upgrade. Different altcoins have maintained their uptrend over the last week with a movement of 12.54 percent upwards. 

The global crypto market at the time of writing has crossed $2 trillion and it is indeed a positive sign for all crypto traders and investors. Experts even consider that the increase in global acceptance towards crypto is likely to continue making crypto one of the most important assets for the 21st century. 

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