Bitcoin Extends Rally Amid Improving Crypto Demand

Bitcoin rose to a more than one-month high as sentiment on cryptocurrencies continued to improve.

On the Bitfinex exchange,Bitcoin rose 6.80% to $9,459.9

Bitcoin has rallied for two straight-weeks as fears over regulatory concerns ebbed somewhat, paving the way for investors to resume their bullish bets on the popular crypto, which looks set to test a key $10,000 level.

“After fighting regulation headwinds and tax selling, the path of least resistance is higher, and I believe the sector still has much more upside in the long run,” President of Blue Line Futures Baruch told CNBC. “The ultimate upside is $11,500 to $11,800.”

The total market cap of cryptocurrencies rose to about $432 billion, at the time of writing, from about $397 billion on Monday.

The total cryptomarket cap has nearly doubled in just under two weeks, pointing to renewed demand for cryptocurrencies, supporting a rebound in large-cap cryptos including Ethereum, Ripple XRP’s, Bitcoin Cash and Litecoin.

While Ethereum rose 11.27% to $707.95,  Ripple XRP rose 8.24% to $0.93408 on the Poloniex exchange.BCH/USD rose 5.87%, While Litecoin rose 9.87% to $164.84./

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