Bitcoin Recovers to $52,700

"Bitcoin reached a local low at $47,250 overnight from Sunday to Monday, after which it has received support from buyers. As a result, on the first day of the workweek, the reference cryptocurrency records a 5% increase and is trading at around $52,600. In addition, the trading volume of the coin is also up 28%, which is quite a positive sign for the market. In spite of the fact that Bitcoin's cap has fallen below $1 trillion, the fact that the crypto has not continued to fall over the weekend is great news for the market.

As a general rule, on weekends, the retail sector becomes more active. It is very likely that the lack of panic among lay investors has become an important fundamental factor for Bitcoin. However, the crypto community as a whole believes the recent drop is another local correction that paves the way for further growth, as well as an excellent opportunity to buy the asset at a discount. The stock market rebound has probably also played an important role in stabilizing the situation in the cryptocurrency market.

Investors in general see that the 'party' is not over yet, the incentive policy will not be eliminated so quickly, the money printing press will not be turned off, which means part of the investors' portfolio will continue to bet on BTC. The total market cap of cryptos is around $2 trillion. Most coins are in the 'green area' at the start of the week, which means we are likely to see the surpassing of this psychologically important mark for market participants as well as continued growth."