Bitcoin has started the new workweek posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $57,608.39 (+0.49%), according to CoinMarketCap. The crypto approached $60,000 last weekend.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has increased to $1,789.77 (+0.25%), while XRP has risen by 0.24% and is now trading at $0.525.
Analyst Willy Woo believes chain metrics show investor acceptance of a new price level, and it is very likely that the asset's total market cap will no longer fall below the psychological $1T barrier. This would happen when the price falls below $53,590.
At the same time, analysts at banking conglomerate Deutsche Bank said that after reaching a capitalization of $1T, Bitcoin has become "too important to ignore."
According to experts, the price of Bitcoin could continue to rise as the asset attracts new large investors, such as asset managers and corporates. However, Bitcoin's limited tradability will remain the reason for its increased volatility, according to Deutsche Bank.
According to CoinMarketCap’s ranking, 6 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $1,788,152,656,449.
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