Bitcoin has started the workweek in a positive mood. At press time, the largest cryptocurrency by market cap is trading at $34,926.44 (+4.47%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has risen to $2,032.28 (+8.7%), while Tether has dropped by 0.06% and is now trading at $0.1.
FxPro's team of analysts say:
"Bitcoin has received support from buyers as it has approached the $30,000 threshold. This time the impetus probably came from the retail sector, which traditionally tends to be more active over the weekend. Last Saturday, Bitcoin started to fall rapidly to approach $30,000. At the start of the new workweek, the reference crypto is trading at around $34,500 after adding nearly 5% over the past 24 hours.
El Salvador is still working to launch Bitcoin as an official means of payment, promising to give each citizen of the country $30 in the form of BTC after the launch. Of course, the amount is very small compared to developed economies. Surely the experiment itself will be very difficult and will probably fail in the country, as none of the world's largest financial institutions will offer open assistance. However, no doubt everyone will follow what is happening. There is no doubt a new type of crypto-offshore companies will start to regain their place in the financial world.
The Bitcoin background is also helped by the approval of a $1.2 trillion infrastructure investment plan in the United States. The general policy of continuing to stimulate the economy means that the printing press will not shut down, adding value to assets such as BTC. MicroStrategy's purchases don't have as strong an impact on the market as before, but when combined with other factors it "keeps the market burning."
According to CoinMarketCap’s ranking, 7 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $1,394,801,303,925.
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