The cryptocurrency market has stormed into the new month, with expectations high that bitcoin could break its historically poor September performance. A look back at monthly price data since 2013 shows bitcoin has closed September in the green just twice in eight years—in 2015 and again in 2016—but even then with only small gains. Cointelegraph has a full write-up. With bitcoin looking healthy today, many are anticipating a pump thanks to the attention bitcoin’s set to see from El Salvador’s adoption of the cryptocurrency tomorrow.
Elsewhere, cryptocurrencies across the board are continuing to climb. Chainlink, a 2020 crypto darling, has led the major market higher with a 15% rise over the last 24 hours and adding to gains of almost 40% this past week. Ethereum is holding onto its huge more-than-20% gains over the last seven days but is flat on this time yesterday. Among the crypto top ten Ripple’s XRP payment token is leading the pack, up 10% on the last 24 hours. Dogecoin is also outperforming other tokens with a 5% gain as an upgrade continues to improve confidence.
Solana, one of the many ethereum rivals jostling for attention, has now climbed to the seventh spot among the world’s top 10 largest cryptocurrencies, after its price has tripled in about three weeks, giving it a value of more than $42 billion, according to CoinMarketCap. The market could be getting dangerously hot, however, with the Crypto Fear & Greed Index, a measure of market sentiment, showing traders are back in the “extreme greed” mindset. With a score of 79/100, the gauge is just 16 points away from its historical top zone, an area that has sparked corrective moves in the past.