Bitcoin heads to trade above $4,000

Bitcoin fell slightly in the spot trading on Wednesday, for the first time in three days. The decline is limited so far as the world's largest cryptocurrency is now ready to trade above the psychological barrier of $4,000, with the positive atmosphere still dominating the digital market.

As of 09:10 in"Bitstamp", Bitcoin fell $11 to $3,988 with a rate of 0.3% while opening at $3,999 with a high level at $4,018, and a low at $3,962

As of Thursday, Bitcoin rose by 0.8% in the second daily profit in a row, leading the gains of most major currencies in the market.

The cryptocurrency market value decreased on Wednesday with almost one billion dollar, to a sum of $139.5 billion, with a limited decline in most of the major currency markets.

Yesterday, the market value of cryptocurrencies recorded a level of $141 billion, the highest level since February 24th, in a strong sign of the positive atmosphere dominating the market at the moment.

The market value of the Bitcoin rose by about $11 billion within 24 hours on March 16th, the biggest jump since April 25th, 2018, in a positive sign that market participants are gradually shifting to the leading cryptocurrency

On Yesterday, Bitcoin witnessed a significant increase in the retail fragmentation rate to more than 52 million transaction per second, according to the blockchain site.

It is worth mentioning that the retail rate measures the performance of the Bitcoin miners who secure the largest crypto network in the world. The higher the rate, the higher the resources needed by the hackers to successfully attack the Bitcoin.

The recent increase may mean that the downward trend in the retail rate may be finally broken, and consequently, the prices of Bitcoin are expected to move up in the emerging market.

The current retail rate is the highest since November, approaching a high record of 62 million fragmentation in the year ending of August 2018.