The crypto market continues to rise – “bitcoin was incredibly oversold”

The crypto market continues to rise.

Buy orders now compose over 92 percent of the market activity for the first time since March 2017. Image source: Shutterstock

Christian Ploog

christian.ploog@trijo.co

The crypto market seems to grow momentum right now. The prices of all major cryptocurrencies are up and buy orders compose over 92 percent of the market activity.

Buy orders now compose over 92 percent of the market activity for the first time since March 2017, according to data from TurtleBC. It measures buy orders for bitcoin, ethereum, ripple, dash and nem, among others.

The biggest increase in buy orders combined with the tax season in the US now is over could pave way for a continued strong bull market, writes cryptoslate.com.

“We still feel pretty confident that bitcoin is a great risk-reward and we think it could reach $25,000 by the end of the year. It’s overdue. Bitcoin was incredibly oversold”, said Thomas Lee, co-founder and head of research at Fundstrat, in an interview with CNBC last week.

The crypto market is on the rise

If we look at the biggest cryptocurrencies, we see that there are green numbers across the board. The one that has soared the most is bitcoin cash (+11,23%). The cryptocurrency actually climbed over the $1.200 mark recently.

Also eos (+7,40%), ethereum (+5,63%), and ripple (+5,08%) have gone up. Bitcoin (+1,80%) has also gone up, but not as much.

Prices the last 24 hours

Coin: Price: % (24h)
Bitcoin $8 922,36 +1,80%
Ethereum $630,53 +5,63%
Ripple $0,897780 +5,08%
Bitcoin cash $1 213,26 +11,23%
Eos $11,63 +7,40%

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