Bitcoin price has risen 65% in 3.5 weeks while fetching $48,000

Charlie Taylor

The market capitalization of cryptocurrencies reached $2 trillion, as the price of bitcoin approached $48,000. BTC's price has risen more than 65% since July 20. Bitcoin has continued its decisive rise, and the last stage of the rise has brought the asset to nearly $48,000. Alternative currencies performed even more impressively, with ETH hitting $3,300 and the ADA exploding by another 10%.

Bitcoin awesome race

A lot can change in the cryptocurrency markets in a month or even less sometimes. The BTC is an excellent example as it fell to a low of $29,200 on July 20th. As bearish sentiment was taking over, however, the asset reversed its trajectory. It started to recover its value fairly quickly, recovered $30,000, and continued to climb. In a matter of days, he added over $10,000, but this time, the $40,000 price line could not contain the bulls. $47,900 – the highest price line in about three months. So it gained 65% in just over three weeks. As of now, the currency has undergone some corrections, but is still above $46,000. Its market dominance has taken a step back as altcoins are even greener, but the market capitalization is around $900 billion.

Altcoins in green

Recent variation of the main cryptos. Source: Coingolive. Alternative currencies performed similarly in this period. On a weekly scale, most posted impressive gains, as mentioned above. Ethereum added 11.8% more on the week's value and currently trades above $3,200. Previously, it hit a multi-month high of $3,320. Binance Coin (18.3%), Polkadot (9.1%), Uniswap (10.9%) and Solana (10%) also saw significant gains. However, XRP (54.9%), Dogecoin (37.2%) and Cardano (53.8%) rose even more. $2 trillion before. That comes after adding nearly $200 billion since Thursday's low.Read too:

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