Bitcoin Reaches USD 5,800 and Drives Cryptomarket

· The BTC price rose above USD 5,800, up 7% in the last 24 hours.

· The market capitalization of bitcoin reaches USD 100 billion.

The moderate upward trend of the cryptocurrencies market has taken a positive turn in the last few hours, recording a 8% boom to reach USD 186 billion, while the bitcoin price surpassed USD 5,800, reaching a new high so far this year.

This boom in BTC and cryptomarket led to bitcoin market capitalization exceeding USD 100 billion for the first time since November 2018.

The fact that this rebound in BTC and the rest of the Cryptomarket follows the New York City Prosecutor’s Office’s action against Bitfinex and Tether, with allegations of fund mismanagement. This is a sign that there may be a significant level of trust in the market.

On the other hand, Facebook, the social network with the largest number of users in the world, has ratified that it goes with a firm step with its crypto currency, which is possibly a source of confidence for investors.

The plan of large investment firms, such as Fidelity and ICE, with the cryptocurrencies are an attractive factor for institutional investments in these.

In recent weeks, several analysts have presented arguments in favour of the thesis that BTC has not reached the lowest level on social networking sites.

Media: Criptonoticias