Bitcoin’s coveted digital currency needed less than one week to climb back over $19K after trading near to $17,6K last Friday. In the meantime, one of the big performers recently, Ripple (XRP), is today the lone top ten coin in red.
At the moment of publishing, Bitcoin traded at $19,278 and rose by 4.5 percent a day, leaving all its losses during the week behind. Prices are now up 17 percent month-wise and 162 percent in one year.
Bitcoin Graph of Prices:
Some coins from the top ten list jumped by two-four percent a day, except for XRP, which fell by four percent to $0.51 and is currently the lowest-performing coin in the last week (-16 percent). Other big crypto assets, excluding Bitcoin, remain down by two-six percent this week.
It seems that big traders, whales, and institutions that gathered Bitcoin around $10K levels decided to make profits while this rally is ongoing. In contrast, retail traders mainly continued to add to their marks while the price jump was happening. As an outcome, retailers were stuck under $19K, but seeing how the general consumer mood is still positive, their losses were supposed to be short-term.
Relative to the previous cycle, the biggest cryptocurrency asset on the globe appears to be on the correct path, and the similarity between cycles is unbelievable.
In the meantime, on Friday, States-based BI firm MicroStrategy reported that it had gathered $650 million by selling convertible senior notes slated in 2025 to purchase additional Bitcoins. This week, news came out that America’s MassMutual Insurance has acquired $100 million worth of BTC to add to the general investment fund.