Bitcoin rose to $ 17,304 for the first time in 2 weeks

For the first time in recent memory, the flagship cryptocurrency managed to rise by several percent and set a two-week record — BTC $56,314.34 Bitcoin -1.66% Market capitalization $1.11 trillion VOL. 24 hours $2.81 billion rose to $ 17,304. Cryptocurrency experts believe that bitcoin is on the offensive, and investors should prepare for further growth in the crypto market.

Editor’s note: not financial advice.

After a relatively stable weekend at $ 17,000, bitcoin started Monday with positive indicators, adding 1.9% of its value over the day and 5.2% over the week. The market capitalization of the digital asset exceeded $ 330 billion.

As for altcoins, they also showed changes in value. ETH $3,004.97 Ethereum 0.32% Market capitalization $361.21 billion VOL. 24 hours $1.52 billion grew by 3% per day and by 8.3% per week. Binance Coin approached $ 300 after a slight daily increase of 1.8%, and its value is currently BNB $508.96 BNB 1.29% Market capitalization $78.31 billion VOL. 24 hours $0.3 billion . Ripple, Dogecoin, Cardano, Polygon, Polkadot, and OKB also made minor gains. Litecoin and Shiba-Inu were the biggest gainers, up 9.1% and 5.3%, respectively.

Despite the recent drop, many analysts believe in the successful future of BTC. Among them is Morgan Creek Digital hedge fund manager Mark Yusko, who is convinced that bitcoin will replace gold. The analyst also believes that the rate of the flagship cryptocurrency will reach six figures, and China will become the home of the next global reserve currency. «There is only one money in the world: gold. Everything else is currency. Every central bank in the world owns precious metals. Some of them have less gold than before, as they have moved away from the gold standard and switched to the fiat standard ,» the financial expert said.