April 1st: Spring is in the air, and the cryptocurrency markets are continuing to rise steadily. As such, could the crypto winter perhaps finally be drawing to an end? The last few weeks’ continuous price increases suggest that this might be the case.
Bitcoin has been on an upward trajectory the last months
Anyone keeping an eye on the cryptocurrency markets will be acutely aware of the bearish market sentiment that plagued the markets for the better part of 2018.
This negative market sentiment is oftentimes referred to as the ”crypto winter”, seeing as it constituted a significant market cool-down compared to 2017’s explosive price rally. Now, however, it seems that the cryptocurrency winter might finally be thawing.
Specifically, Bitcoin is currently trading at around $4,150, and the total cryptocurrency market capitalization is above $143 billion. Perhaps more notably, Bitcoin has been on an unbroken general upward price trajectory since the end of January.
This chart from CoinMarketCap illustrates how Bitcoin has continued on an upward price trajectory, from around $3,400 to over $4,100. Although not any definitive answer as to whether the bearish market sentiment has passed or not, Bitcoin is undoubtedly trending upwards.
The cryptocurrency market as a whole is in the green
Furthermore, Bitcoin is far from the only cryptocurrency seeing sizable gains in the last few weeks. The following market visualization from Coin360 clearly shows that the majority of the cryptocurrency market is in the green.
In fact, Ripple has experienced intraday gains of around 0.33%, and is currently trading at $0.312757. Ethereum has also seen a price increase, albeit a modest one, of around 0.17% – putting the price of Ethereum at $141.63.
In other price-related news, Litecoin is – at the time of writing – trading at $60.34, which constitutes an intraday increase of 0.11%. EOS has risen by 1.09%, to a price of $4.20. Moreover, Binance Coin has surged by 3.25% to a price of $18.06.
It should be noted that the only major coins in the red are Cardano, which has fallen by 1.31% to $0.070036, and Tether. Tether has decreased by 0.4% to $1 – but it should be noted that due to being a stablecoin, Tether does not fluctuate in as close relation to the rest of the market as many other coins.
In addition to all of this, these latest gains are merely the last ones in a longer series of bullish days for the cryptocurrency market as a whole. Although it is always ungrateful to make market predictions, one can see that the market nonetheless seems to be trending towards higher price levels.
Image Source: “Flickr”
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the cryptocurrency industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.