Crypto On Feb 16: Market Trades In Green For The Second Consecutive Day

The cryptocurrency market continued trading in the green Wednesday for the second consecutive day as top coins including Bitcoin and Ethereum saw a surge. The global market cap was up 1.39% at $1.99 ET as of 4.42 a.m. ET.

Bitcoin rose 0.49% to $44,181. The top coin had touched its record high of $69k in November last year. Even as the coin has dipped since then, pseudonymous analyst PlanB is confident that BTC will touch the $100k mark by 2023.

Ethereum rose 1.91% to $3146, CoinMarketCap data showed. Barring a slight downward movement in USD Coin, all of the top 10 coins were trading higher. Meme cryptos Shiba Inu and Dogecoin too surged.

Industry insiders noted that given the volatility of the market, it is time for careful investments.

Raj Kapoor, Founder of India Blockchain Alliance and Chief Growth Officer at Chainsense, said, "Movement in the metaverse space have also ensured interest levels remain piqued in the markets as investors now see emerging opportunities."

"Markets are volatile and we should not see too much in this marginal rise, but then if there is no sunset, there will be no sunrise. Ride the waves and cherry pick some great opportunities now," Kapoor told International Business Times.

"While fluctuations are nothing new to the market, segments which are showing healthy signs are growing and we are looking ahead for a much stronger crypto ecosystem," Raghav Gupta, Founder of crypto firm Censor Black told IBT.

In other news, Binance Smart Chain (BSC), the decentralized blockchain ecosystem, announced Tuesday that the Binance Chain and Binance Smart Chain are merging under a new title, the BNB Chain.

The crypto market is extremely volatile and experts recommend investors not make decisions based on the sudden shift in prices.