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The Bitcoin price climbs to $ 9,200, the market reaches $ 420 billion in record earnings

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The price of bitcoin has increased by about $ 400 in the last 24 hours, reaching $ 9,000 and over $ 9,200. On April 27, Bitcoin experienced a sudden drop in price to $ 8,800. Throughout the day, bitcoin and the rest of the market recorded significant gains, with market valuations amounting to $ 420 billion.

EOS up to 15% more

EOS was one of the best Ethereum-based chips throughout 2018 and over the last week it has seen massive gains against bitcoin, Ethereum, and the US dollar. Today, the price of EOS has recorded a 16% gain against Bitcoin, rising to 0.0020100 BTC or 18.5 dollars.

He surpassed Litecoin to become the fifth-largest cryptocurrency earlier this year and since then it has almost doubled in market capitalization. The market capitalization of Litecoin remains at $ 8.4 billion while EOS has earned more than $ 15 billion.

Tokens have generally performed well since the beginning of April as investors began to take more risks and invest their funds in more volatile assets and digital currencies. The good performance of the chips demonstrates the momentum of the cryptocurrency market and its rapid recovery since a major correction that occurred at the end of March.

Tokens such as ICON, WanChain, OmiseGo, Tron and Storm have also recorded significant gains against bitcoin and the US dollar over the past two weeks, which has provided them with a strong momentum.

Bitcoin Trend

Bitcoin has been very volatile throughout this week and analysts have suggested that volatility may have been caused by the unexpected sale of Mt. Gox Trust Fund. It was revealed that on April 26, more than 17,000 bitcoins were moved out of Mount's portfolio. Gox, possibly at another address or exchange. The funds were probably moved to a stock market because this move had a domino effect on all major cryptocurrency trades and dropped the bitcoin price by more than 10%.

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The daily trading volume of bitcoin also remains relatively low at $ 7.6 billion. In March, when the price of bitcoin exceeded $ 10,000 and remained in the region of $ 11,500, the daily volume of Bitcoin transactions exceeded $ 10 billion. In December 2017, its volume exceeded $ 20 billion.

The fact that the daily trading volume of EOS represents more than 50% of the volume of bitcoin suggests that volumes have not returned to the cryptocurrency market. If the volumes of major cryptocurrencies can increase in the coming days, it is possible that the price of bitcoin will cross $ 10,000 at the end of April, as many traders predict.

Overall, investors, retailers, and hedge funds have become more optimistic about the short and long-term trend of the cryptocurrency market. This week, the cryptocurrency-oriented hedge fund, Pantera Capital, said it sees the market growing to a $ 40 trillion market in the long run, competing with traditional markets.

"Obviously, we are very optimistic about space, we think we are well below, maybe an order of magnitude – or two – below the true true fundamental value of the blockchain, "he said, stating that" the industry as a whole is $ 400 billion .It could easily go to $ 4 trillion, and $ 40 trillion is certainly possible, "said Pantera Capital CEO Dan Morehead, .

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