Things are getting pretty interesting in the crypto market as Bitcoin mounts a surge up to cross the $5,700 mark. That just happened within the last 12 hours. Just yesterday, the top crypto was still stuck at the $5,500 range.
A few days ago, the crypto market bumped up to recover from a short lull. Since then, the market situation has been relatively uncertain, with some people calling a possible bearish downturn while others have been strongly bullish especially on Bitcoin.
Now that Bitcoin seems to be catching up on the sentiment, a lot of people still anticipate a serious bull run. One of such people is Ran NueNer, a blockchain optimist and host of CNBC’s Crypto Trader. According to Ran, the crypto market is now in a bull market.
BTC Just Went Up Over $5,700
Bitcoin has jumped up by around 6% over the past few hours to surpass the $5,700 mark. In fact, at the time of this writing, Bitcoin trades at around $5,817, with a total market cap of over $103.7 billion as shown on CoinMarketCap. The charts show that the tip crypto has surged by around 7.5% over the last 24 hours.
Ran sent out a tweet proclaiming the new market development and declared that the bull run has already started. The tweet obviously attracted a lot of attention, with some celebrating while others seemed a lit bit skeptical – especially considering that the market recovered and then pulled back a few days ago.
A few hours after Bitcoin started the run, most of the other top cryptos hadn’t quite caught on, but that seems to have changed now as the top 20 cryptos turn green on the charts. Looking at the postings on Coinmarketcap, Ethereum is seen to have surged by 5% already. XRP has gained 2.8% while Bitcoin Cash and Litecoin have gained more with 6.6% and 8.2% respectively.
As the market turns green, the total market cap has also bumped up. Posting about $103 billion in market cap, Bitcoin currently dominates the crypto market with around 55.4% market share. The total market capitalization of the entire crypto market is now approaching $187 billion.