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Bitcoin jumps 10% at the beginning of October and the total value of the crypto market exceeds 2 trillion dollars

Bitcoin jumps 10% at the beginning of October and the total value of the crypto market exceeds 2 trillion dollars

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Answer Bitcoin jumps 10% at the beginning of October and the total value of the crypto market exceeds 2 trillion dollars

Most traders in the crypto market waited for the end of the month of September, which is usually characterized by volatility and price volatility.

October got off to a bullish start on the cryptocurrency market as Bitcoin and altcoins added a total of $170 billion a day.

Most of the cryptocurrencies rose in double digits with Bitcoin leading the advance with an increase of 10.62%, as the price of the coin rose from a daily low of $42,860 to a daily high of nearly $48,400.

The total market capitalization of cryptocurrencies also increased by almost 10% to grow above $2 trillion again.

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Currently, reach The total cryptocurrency market capitalization is $2.09 trillion.

The price increase almost comes after a month-long consolidation in the cryptocurrency market, where September once again proved to be a bearish month.

Let October start an uptrend as many market experts predicted.

Analysts believe that the current rally could lead to the second phase of an uptrend where Bitcoin and other altcoins could reach new highs.

Bitcoin earlier regained its 21-week EMA and surpassed its monthly high of $41,470 to $47,100.

A break above this range could push the larger cryptocurrency into the $50K region.

Bitcoin Eyes At $50K Level And Altcoins Are Reclaiming Some Of Their Value:

After Bitcoin broke the main resistance at $47,000, Bitcoin is now setting its sights on $50K, and a break of it would mean heading towards the $55,000 level which will be the next target.

Bitcoin started September at $53,000 but lost nearly 20% of its value over the course of the month.

Ethereum price broke out the key resistance at $3,100 and is currently trading at $3,246 with an eye on $3,500 as the next major resistance.

Read:The crypto market is facing a series of events and the possibility of further decline in the future, according to “JP Morgan”

Ethereum was already gaining bullish momentum as it fluctuated above $3000 earlier today.

The second largest cryptocurrency is up more than 8% today and may follow the path of Bitcoin.

The cryptocurrency market can now look to recover some of the lost gains from the May, July and September cycle.

The Bitcoin futures ETF is also expected to be passed in October, which will act as a catalyst to continue the bull market.

Read also:

Crypto project “COTI” reveals new updates related to the provision of debit cards and bank accounts

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