A new wave of growth in digital assets began a few weeks ago - on February 28. However, it would be imprudent to announce that the price correction that has swept the cryptocurrency market has been overcome. The situation has changed over the past few days, and major digital currencies have grown significantly in value. The main difference between the current market growth and a week ago was the absence of a sharp drawdown of indicators after continuous growth.
This difference can be a key argument in the assumption that the cryptocurrency market has overcome the price correction. After reaching high quotes, some coins slightly fell in price. The market has stabilized, and sharp drops in the value of digital assets have not been observed for several days. It is still too early to make full-fledged conclusions, but one thing is certain, after the full-fledged end of the price adjustment, the cryptocurrency market will begin to storm new capitalization records.
Bitcoin is celebrating a 27% increase this week since February 28th. Now the coin is at around $54,000 and by tomorrow it may come close to the historical record.
Ethereum keeps up with bitcoin and rises again to the $1,800 mark. In addition to the growth of the main cryptocurrency, the growth of ETH was influenced by positive news from the related industry. AMD has announced the development of an exclusive graphics card for Ethereum mining. The developers stated that this model of the video adapter will not have the ability to display images on the screen, which makes the product unattractive for gamers. This news may become a prerequisite for the rapid development of ETH and an increase in demand for it, which had a positive effect on cryptocurrency quotes.
Things are not going smoothly for the Ripple token, which rose to $0.48, but lost ground and slipped to $0.47. The market has been waiting for a long time and finally waited for the negative impact of the trial on the cases of Ripple and, as a result, their token. The money transfer service MoneyGram has terminated its cooperation with Ripple, which means that the XRP token cannot be used for cross-border transfers through the On-Demand Liquidity system.
Litecoin is also fluctuating, which, against the general background, managed to reach the $203 mark. Now the coin has gone into a prolonged decline and is quoted at $196.
Despite minor drawdowns of individual cryptocurrencies, the market shows positive dynamics. The drop in XRP and Litecoin quotes is more likely associated with local problems of individual digital assets, rather than with the negative dynamics of the entire market. The two main digital coins remain safe and close to record highs. If in the near future there is no sharp decline in the price by 3-5%, then we can talk about the overcoming of the price adjustment by the cryptocurrency market. This, in turn, will mean a rapid rise in the value of major digital assets and the establishment of new historical records.
