Bitcoin has regularly maintained a valuation over $10,000 in the past 30 days. Other cryptocurrencies have maintained pace with strong valuations as well. At the moment, Bitcoin retains its dominance over the market with a huge overall share. Ethereum, Ripple, Bitcoin Cash, Litecoin, and others continue to hold steady. Plus, developments with major companies and even countries make the future a bright one.
Does Apple Plan To Enter The Cryptocurrency Market?
Recently, the head of Apple Pay stated the company's interest in cryptocurrencies. Apple Pay processes more than a billion transactions each month. Apple didn't mention any active cryptocurrency development projects. Nonetheless, the fact that the company is watching over the market indicates a willingness to one day dive in. Apple's entry into the market would attract a wide demographic of investors immediately.
China Could Introduce Its Own Cryptocurrency Down The Road
Similarly, a deputy director for the People's Bank of China praised cryptocurrencies as well. Mu Changchun stated China is extremely interested in introducing a cryptocurrency for Chinese citizens. The technology would be used to fuel electronic payments across all major platforms. For obvious reasons, such a move would benefit the entire cryptocurrency market as a whole sooner rather than later.
Bitcoin and Altcoins Are Trending Towards A Rally Soon
Bitcoin is currently valued around $10,500. Ethereum and Ripple stand at $178 and $0.26 respectively with steady performance. Likewise, other major altcoins have started to recover from a minor pullback over the last 30 days. Bitcoin and most altcoins seems poised to rally even higher within the next few weeks. All signs point toward growth rather than another bear market, which is always good news.
As always, everything is subject to change when it comes to cryptocurrency markets. Analysts see positive signs in the market performance. Regular investors don't have any reason to be spooked about valuations. With major companies and potentially countries thrown into the mix, cryptocurrency markets seem poised to grow. The positives currently outweigh the negatives for a potential rally. However, this wouldn't be the first time the markets suddenly turned into a long-term bear market.