Bitcoin briefly surpassed $43,000 for a 20-day high but then retraced and fell to $42,000 in January 2021, its all-time high. While most altcoins have stopped today, Ethereum Classic continues to grow with another huge increase.
Bitcoin Retraces to $42K
The last few days were quite good for the primary cryptocurrency, with no significant movements in either direction.
BTC saw a price jump of $40,000 to $42,000 on March 18, which was one of the largest price gains. In the days that followed, it fell by a few hundred bucks before going on the offensive again yesterday.
Bitcoin soared by $2,000 to $43,000 this time. This was the highest bitcoin price since March 3rd. The bitcoin price remained at the same level throughout the trading day. However, the bears took control and drove it south.
BTC fell to $42,000 and is now at the same level. Its market capitalization has fallen slightly to $800billion.
BTCUSD. Source: TradingView
lts Stall ETC on a Rolle
Although altcoins have seen impressive gains over the last few days, most have experienced minor drops since yesterday.
Ethereum reached $3,000 for the first-time in several weeks, but it failed to maintain that level. The second-largest cryptocurrency is now at $2,950 after a 2% drop.
Binance Coin, Ripple and Avalanche, Dogecoin and Shiba Inu all slightly rose. However, Polkadot, Solana and Cardano have experienced minor increases.
Ethereum Classic is still the star of the show. ETC has risen by more than 11% over the last 24 hours, and by 85% in one week. The asset now stands at $50.
Although the crypto market cap has decreased slightly from yesterday, it is still over $1.9 trillion.
Cryptocurrency Market Overview. Source: Quantify Crypto
Marla Brooks – Financial Analysis
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