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cryptocurrency market cap reached $96.5 billion ; bitcoin price doubling again to around $6000

The cryptocurrency market is expanding rapidly in recent years. According to the data from Coinmarketcap.com, the total cryptocurrency market cap reached $96.5 billion this year. Bitcoin , one of the most popular cryptocurrencies, and it has increased in value 5.2 percent to $2,650 a coin on Monday. Bitcoin had already gained 157 percent year-to-date and dominated the cryptocurrency market with $43 billion market cap. Another digital currency, Ethereum, also skyrocketed this year. The price of Ethereum hit a new record high of $250.41 a coin on Sunday, with an increase of more than 2800 percent this year. Ethereum now the second-most popular cryptocurrency and is gaining market share rapidly.

"There is a lot of fresh liquidity flowing into bitcoin, thanks to a surge in interest among investors in Asia , notably Japan and Korea , coupled with a resolution to the scaling debate. I would not be surprised to see the bitcoin price doubling again to around $6000 by the end of the year," Aurelien Menant , CEO of Gatecoin, a regulated cryptocurrency exchange, said in a CNBC interview.