Bitcoin Makes New All-Time High
Valentine’s Day was not only the day of love for many, but also the day Bitcoin made another all-time high. Bitcoin touched $49,707 on Feb. 14. The new high sees Bitcoin unable to break the psychological resistance of $50,000 and BTC bounced off and dropped to $48,100 before stalling.
Total Market Cap Hits All-Time High
While Bitcoin was making new highs, the total market capitalization saw a new high of $1.5 trillion. The new all-time high is the sixth time in one week that a new high has been set, further reiterating that a bull market is in full swing.
The total crypto market cap has nearly doubled in size during 2021. It was at $738 billion on New Year’s Day.
Biggest Gainer in the Top 100
The biggest gainer in the top 100 saw Ravencoin (RVN) finally make a comeback.
RVN increased 40% in price on Feb. 14. RVN now climbs back into the top 100 with a market cap of just over $670 million. RVN outperformed all other coins in the top 100 by some distance on Valentine’s Day. Perhaps this signals a new found love for the project on the day of love.
XRP Back in Front of DOT and ADA
The battle of the giants continues to rumble as XRP, DOT and ADA keep flipping each other. This time around XRP has managed to regain fourth spot from both ADA and DOT.
The past two weeks have seen the three projects leapfrog one another for fourth spot, behind BTC, ETH, and USDT.
XRP however manages to maintain fourth spot by less than $150 million market cap. DOT looms only $700m behind ADA.
The big gainer on Sunday was definitely Bitcoin, which saw dominance climb over 2% coupled with a 2.7% gain in price on Sunday.
Monday looks to be a compelling day for BTC as price looks to possibly retest the daily high. Momentum is currently still with Bitcoin as the crypto looks to continue surging to new highs after a dramatic month and a half climb.
While Bitcoin has slowed down dramatically over the last week, the altcoins have run. It appears it may be time for Bitcoin to carry on with its bullish momentum. Altcoins would likely see significant corrections if Bitcoin moves. All eyes will be on Bitcoin this week to see where it heads to next.
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