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Bitcoin and the rest of the cryptocurrency market

Bitcoin and the rest of the cryptocurrency market have started Q2 off with an emphatic bang, having at one point increased the market’s total capitalization by nearly $40 billion since the beginning of April. Indeed, bitcoin led the market-wide charge on April 2, surging over 20 percent in a single hour – a move that had since extended to a 136 day of $5,304 yesterday, according to data from CoinDesk’s price data. A common byproduct of a rallying bitcoin, however, is diminished returns of the BTC denominated trading pairs of most other cryptocurrencies, as opportunistic investors tend to shift funds into the market leader when it picks up a bid. Such was proven Tuesday when almost all of the top 50 cryptocurrencies ranked by market cap were posting impressive 24-hour gains in US-dollar value, yet only Nano (NANO) was found to be reporting BTC denominated gains, Messari data revealed. On Wednesday, though, it seemed investors were rotating funds back into the many other cryptocurren...
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