Crypto Goes Vertical With 11 Billion Dollars Added To The Total Market Capitalization In One Day

A day like no other I have to say. Since morning I have been watching closely the crypto markets and even talked to a friend on the phone for about two hours about crypto in general and different strategies of investing in it. He is very new and sees everything as a profitable trade at the moment. Coming back to the situation of the market when looking at charts almost all of the top ten cryptos have gone vertical. Except USDT of course.

Bitcoin is selling at about $3,681 at the moment of writing after hovering around the $4,400 level for quite some time while LTC which is the biggest gainer today is selling for $43. Luckily I bought something at 33 so I feel a bit lucky. Steem has also about 9% growth in price and it's close to 30 cents but nothing spectacular in its case.

The question that might rise now is what might have caused this serious spike in prices all over the crypto market after a period of boring sideways movement? The most relevant rumor is the one that a Bitcoin ETF might be approved very soon, circulating in the crypto media, but in fact nobody knows for sure. It might have been also that cryptos were oversold and once a whale started buying large quantities the FOMO was triggered.

It is interesting to watch in the days to come how much momentum this price action has. I am thinking also about the bottom that it is talked about for quite some time and if we have reached it already and started to go up constantly again towards new ATHs. I guess nobody knows that for sure either but we all wait patiently for a new bull run and I in particularly hope to take some profits from my investments during the next one after such a long wait.

Thanks for attention and have a great day!
Adrian