- Bitcoin holds 46% of the market share
- Women will contribute to the Bitcoin rise believed by Tim Draper.
Today the price of Bitcoin (BTC) jumped 19% from its low of $26,350.49 on May 12, reaching above $30,000 for the first time.
Since the Bitcoin winter, the whole crypto market has faced a nearly 5-week downtrend. The worldwide crypto market has lost more than half of its value from an all-time high of $3 trillion with Bitcoin alone dropping more than 60% of its value from an all-time high of $68,789.63 which was recorded on November 10, 2021.
Green Spreads on the BTC Chart
Since March 2022 this week, the king of cryptocurrency Bitcoin started seeing the green candles on its chart and the bulls are trying hard to establish strong support and keep the rise up. The current market cap is $1.301 trillion 13% increase from the bottom low of 1.137 trillion on May 12, BTC holds 46% of the market share and currently trading at $31,633.36 at the time of writing.
The downtrend in the BTC is reversing to a bullish trend. Bitcoin price activity reveals a favorable crossover between the 200 and 50MA (Moving Average)
The trend appears in the Falling Wedge, the support level indicates Bitcoin winter has stopped and may touch the target resistance level of $47420, which means BTC will enter the “Buy trend”. The volume of bitcoin has increased now it has $33,272,030,295 USD and a market cap of $602,777,619,292 USD.
Bitcoin uptrend gives a strong green signal to the crypto market and investors are feeling relief seeing greens on the chart but still the altcoins facing pain.
