Following another dip to ,600 bitcoin has bounced off and has reclaimed the K level. Most alternative coins have taken a breath of fresh air as well, and the market cap has gained about billion since yesterday’s bottom.Bitcoin Reclaims KThe primary cryptocurrency began gradually decreasing in value at the start of the week. After a few consecutive days of trading in the red, bitcoin dipped even further to ,600.Despite bouncing off initially, BTC failed to fully recover in the following days. This resulted in another drop, this time to about ,500 (on Bistamp) – a new lower low.The recovery was not late to come as the primary cryptocurrency refused to stay low and initiated a leg up shortly after. Firstly, BTC overcame ,000 before spiking to its current price of about
Topics:
Jordan Lyanchev considers the following as important: ADABTC, ADAUSD, BCHBTC, bchusd, Bitcoin (BTC) Price, BNBBTC, bnbusd, BTCEUR, BTCGBP, btcusd, btcusdt, DOTBTC, DOTUSD, DOTUSDT, ETHBTC, Ethereum (ETH) Price, ethusd, featured1, LINKBTC, LINKUSD, LTCBTC, ltcusd, Market Updates, social, XMRBTC, XMRUSD, xrpbtc, xrpusd
This could be interesting, too:
Mandy Williams writes Here’s a List of Bitcoin (BTC) Price Pullbacks Since the Bear Market Bottom
Andrew Throuvalas writes Here’s The Exact Top Of The Next Bitcoin Cycle, Power Law Says
CryptoVizArt writes Polkadot Price Analysis: DOT Consolidates in Critical Area as Bulls Eye Push
CryptoVizArt writes Calm Before the Storm: XRP Anticipating Massive News (Ripple Price Analysis)
Following another dip to $17,600 bitcoin has bounced off and has reclaimed the $18K level. Most alternative coins have taken a breath of fresh air as well, and the market cap has gained about $20 billion since yesterday’s bottom.
Bitcoin Reclaims $18K
The primary cryptocurrency began gradually decreasing in value at the start of the week. After a few consecutive days of trading in the red, bitcoin dipped even further to $17,600.
Despite bouncing off initially, BTC failed to fully recover in the following days. This resulted in another drop, this time to about $17,500 (on Bistamp) – a new lower low.
The recovery was not late to come as the primary cryptocurrency refused to stay low and initiated a leg up shortly after. Firstly, BTC overcame $18,000 before spiking to its current price of about $18,350.
The technical indicators suggest that Bitcoin has to overcome the resistance lines at $18,500 and $18,800 to resume its late 2020 bull-run and challenge the coveted $19,000 level.
Alternatively, the support areas of $18,000, $17,260, and $17,000 could assist in case BTC heads south once again.
Altcoins In Green: Despite Ripple
During the past week’s price drops, the alternative coins suffered even more than Bitcoin, and the total market capitalization lost $50 billion in less than seven days.
However, most of the altcoins have bounced off from yesterday’s bottoms. just as Bitcoin did. Ethereum has increased by 4% on a 24-hour scale and has neared $560.
Bitcoin Cash (4%) trades above $265, Binance Coin (4.3%), is close to $28, Chainlink (5%) has risen north of $12, and Polkadot (4%) is at $4.8. Cardano and Litecoin have gained the most from the top ten (7%) and sit at $0.146 and $75, respectively.
Ripple is the only top ten token in the red with a 6% decline, as another classic case of “sell the news” event following the Spark (FLR) airdrop snapshot, which took place hours ago on December 12, 00:00 UTC time.
NEM and Monero are the most significant gainers since yesterday with double-digit increases. As a result, XEM is close to $0.24, while XMR has neared $150.
Verge (9%), Decred (9%), Waves (8%), Dash (8%), and Aave (7%) follow. Ultimately, the total market cap has added $20 billion in a day and currently displays $541 billion.