Bitcoin rose in price to the level of $49,600. Ethereum reached the $3,775 mark, and XRP reached the $1.25 resistance. The total capitalization of the digital currency market was $2.22 trillion.
The bitcoin exchange rate temporarily exceeded the level of $50,000 and reached the highest level since August 23. To recover to an all-time high of about 65,000, bitcoin needs to rise by another 22%. Over the past month, cryptocurrencies have grown by 27%. September has historically been a bad month for bitcoin. According to statistics, since 2013, this month has ended in six cases for the first cryptocurrency in the red zone. This year, it managed to open September with an increase of 6%.
Before the resumption of growth, asset managers took the largest volume of long positions on bitcoin at $165 million. The net ratio of positions of asset managers became positive for the first time since April, which indicates a change in the sentiment of institutions towards bitcoin to positive ones. Analysts also note the decline in bitcoin balances on the Coinbase exchange as a sign of renewed demand from large investors. According to Glassnode, there were 709,695 coins left in Coinbase wallets on Wednesday, which was the lowest value since 2017.
The Cardano token exchange rate exceeded $3 for the first time. At the same time, the capitalization of ADA has come close to $100 billion, which helps it secure a place in the top 3 of the cryptocurrency market. The growth of ADA occurs on the eve of the long-awaited activation of smart contracts in the Cardano blockchain. Yesterday, the developers announced their successful launch in the test network. In addition, a new maximum was registered today by the FTX cryptocurrency exchange's own token. Over the past day, it has risen by 32% and approached $ 70 a few hours ago. With a capitalization of 7 billion FTX occupies the 27th line in the market. Earlier this week, it became known that FTX will buy the LedgerX platform to launch cryptocurrency derivatives based on its American division.
The forecast assumes an increase in the price of bitcoin to the levels of 49800, 50000 and 50500 dollars. Ethereum will reach the levels of 3800, 3825 and 3850 dollars, and XRP - price values of 1.26, 1.28 and 1.30 dollars.
Read more: The history of the Coinbase exchange