However, investors need to invest cautiously as regulatory FUD (Fear, Uncertainty and Doubt) especially surrounding the new U.S infrastructural bill may cause a sell-off in the market as news like this is known to affect the market adversely.īitcoin is currently trading at $51,800, up 4.48% for the day, as of the time of writing this report. ![]() This is possible as data from Glassnode reveals that the number of BTC that left centralized exchanges last month amounted to 124,501 BTC (approximately $6 billion) which suggest that there is strong demand for Bitcoin. Many market participants anticipate that once the flagship cryptocurrency breaks through the $51,000 trading zone, a zone which is considered the ‘final resistance’ according to William Clemente, an on-chain analysts’ expert, Bitcoin should trade around $58,000 before the month ends. Bitcoin has broken through the $50,000 resistance but it is currently struggling to maintain its posture. It started the month trading at $39,974 and ended the month nearly breaking the $50,000 trading zone to stand at $47,166, which represent an 18% gain for the month. With the current momentum in the cryptocurrency market, here is a look at 5 cryptocurrencies investors should watch out for in September 2021.īitcoin had an impressive rally in the month of August. However, the hacker has fully returned the money and even turned down a $500,000 reward and a job offer given to him by Poly Network. This exploit was termed by many analysts the largest in Decentralized Finance (DeFi) history. The altcoin market led the rally as the market capitalization gained 43.5% in August from approximately $842 billion to stand at $1.21 trillion at the end of the month with many altcoins posting double-figure gains.Ī major topic of discussion was the Poly Network hack, in which approximately $610 million was carted away by a mysterious ‘Mr. ![]() The cryptocurrency market capitalization gained approximately 28% in the month of August from approximately $1.65 trillion at the beginning of the month to $2.12 trillion. The cryptocurrency market in August recovered significant grounds that was lost in the May 2021 crash.
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