Learn About NFT Projects Reaching All-time High and Bitcoin rallying Above 50K!

Bitcoin is widening every day over the key $52,000 signals that bulls are trying to secure an all-time high again. On 8 March, there was a flow of activities on the cryptocurrency market, which brought the vast majority of the top tokens on International Women’s Day.

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Bitcoin is back above $50K

A new wave of optimism from Bloomberg’s senior commodity strategy strategist Mike McGlone was followed by Bitcoin’s (BTC) recount of above $50,000. It suggested that Bitcoin pushes gold as a store of value in its investor portfolios. 

Cointelegraph Markets and TradingView data indicates that the BTC price increased in early March 8 to $53,300 when it was written from a low of $49,272. Now that Bitcoin price is closer than $52,000 a day, these unwilling traders can open up new long positions.

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              BTC/USDT 4-hour chart. Source: TradingView

Recent analysis shows that while professional traders are reluctant to open new BTC long positions because of an increased dollar and rising Treasury returns, large corporations purchase BTC at an accelerated rate which results in heavy exchange outflows. 

Read more on Tesla and JP Morgan on Bitcoin

NFT’s Double-Digit gain

As many of the best projects reached new all-time highs on Monday, Altcoins moved considerably further. Projects such as Ultra (UOS), Theta (THETA) and Enjin (ENJ) have all been successful in double-digit gains during today’s business sessions, which reached new annual levels. 

THETA/USDT vs. UOS/USDT vs. ENJ/USDT 4-hour chart. Source: TradingView

The UOS price grew 21% to reach a record $0.452, due to the growing excitement around the launch of the main net project, allowing cross-chain and NFT capabilities. On the long-awaited hard fork on 10 March, Theta, a blockchain-based visual streaming platform, also reached an all-time high of $ 4.98.

Theta was strong throughout February, as it was supported by the introduction of streaming NFTs and an announced partnership, with the Theta blockchain validator programme joining Sony Europe. In addition, Enjin (ENJ), which started to build a broad NFT ecosystem, reached an all-time high of $ 1.76 on Monday 5, 2014.

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The total market cap is lifted through the market-wide rally

Recent developments for Ethereum (ETH), as a community prepares to implement the Berlin upgrade on 14 April, have contributed to a rally of 8% in Ether. The best performance in the top ten is Chainlink (LINK) which has increased 12% to $31, while DOGE is up 15.73% and trading is up at $0.58. 

The total market capitalization for the cryptocurrency is $1.65 billion and the dominance rate of Bitcoin is now 60.4%. All together “2-week highs for the BTC price” is seen now in March 2021.

Cointelegraph Market and Tradingview data on Tuesday showed that BTC/USD hit local peaks of $54,500. The latest attempt to break out of its corridor on the side was further consolidated when it was written.

In the midst of heavy volatility, the daily retracing was $53,500 – still more than critical. According to Cointelegraph, analysts had $52,000 in the sand for the next step of the Bitcoin Bull Race. While the weekend brought a healthy upside, Bitcoin still had strong support for $50,000 as the week began.

Read more on Crypto market value tops $1 trillion

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