Why Crypto is Booming This Week
The global crypto market cap broke $4.18 trillion on October 3rd, hitting a new historic milestone for crypto while also adding over $118 billion to the market. This development comes as Bitcoin trades near price discovery at $124,000, and Ethereum topped $4,400. Only a few days after it looked like the bull market was all but over, the market’s renewed strength came at the very start of the last quarter of the year.
Nearly all cryptocurrencies are at a profit in the weekly timeframe. Bitcoin is up 11.25% during that period, while BNB stands out as the best-performing altcoin, with a 22% increase in the last seven days. With crypto pumping, we could see Bitcoin having another go at price discovery, all while altcoins continue to…
