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The cryptocurrency market has seen a sudden increase in prices after a long bear run. Popular cryptocurrencies like Bitcoin [BTC], XRP and Ethereum [ETH]they were all passengers on the bullock after the graphs of an hour showed massive peaks.
At the time of writing, Bitcoin was growing 4.03% in just one hour, with a total market cap of $ 59.237 billion. The cryptocurrency was trading for $ 3,427.12, with a 24-hour market volume of $ 4.047 billion.
Most of the cryptocurrency trade volume was occupied by BitMEX, with a total reserve of $ 1,252 billion bitcoins. BitMEX was closely followed by CoinBene, which had 3.52% of the entire Bitcoin trade taking place on the platform.
The peak saw Bitcoin rise from $ 3,228.3 to $ 3,400.68 in an unprecedented vertical climb. Bitcoin has also been in the news recently when Erik FInamann, a teenager who ended up becoming a Bitcoin millionaire during the 2017 race, said the cryptocurrency was dead. In an interview, he said:
"Bitcoin is dead, it's too fragmented, there are tons of infighting, I do not think it will last, there could be a bull market or two in it, but in the long run, it's dead."
The time of Bitcoin in the spotlight was also extended by Tone Vays, a popular trader and one of the main proponents of cryptocurrency. He had said that Bitcoin use cases are more than one Store of Value and it is a difficult currency that will benefit people. In his words:
"In the end, you run out of the weak currency to spend and you have to spend a hard currency, well, so you're just spending the weak currency while you've got it, in the end you do not have it in the end you do not want it right, if everyone spends it who wants it. "
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