The major weekend breakout, which is beginning to spread to the rest of the crypto market, started earlier in the week with Bitcoin definitively moving above $6,000. The largest digital currency is now up 22% in the past week, giving it a $126.2 billion market cap.
While Bitcoin’s market dominance has grown as a result of the rally — it now stands at 58.2% — altcoins are starting to feel the love. The total crypto market is now up 9.8% on the day, bringing it back above $200 billion to $216.5 billion.
With Blockchain Week just getting starting in New York City and the crypto market showing no signs of slowing down, it’s hard to say whether the current rally is just beginning or due for a pullback — however, it’s worth noting that Bitcoin has reached a level last seen in September of 2018.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.