Bitcoin returns at $50K, adding $3000 since yesterday’s lows, and managed to return to its old position while ETH increased by 6% and drove the coin to nearly $1700 so let’s read more in our latest BTC news today.
After flirting with the $50K price tag, Bitcoin returns at $50K marking a new leg up that spiked the price above it but will it be enough to last longer? There’s no way of telling that of course. In the meantime, most altcoins followed their leader on its way north and ETH neared $1700 in two days after it crashed at $1440. The total market cap added $100 billion in one day. Ever since BTC dropped from the high of $52,000, the cryptocurrency failed to breach above the same level and yesterday it came the closest as the asset traded near that level but failed to surpass it and landed on $47,000.
The situation changed a little as the primary cryptocurrency saw a slow increase over the past few hours and it is trading safely above the $50K mark with a daily high of $50,870 according to Bitstamp. From a technical standpoint, the level is the first major resistance to its way up and if conquered decisively, the obstacles are set at $52,000 and $52,500 while the support lies at $50K, $48K, and $46K and could assist if the price retraces again. This recent BTC spike comes at a weekend when the global markets are shut down for trading so it will be interesting to see how Wall Street futures will open up on Monday.
The altcoin markets went down with BTC during the past few days of trading but similarly to the leader, other altcoins increased during the current weekend and the total market cap increased by more than $100 billion in one day to nearly $1550 trillion. ETH Soared yesterday to $1600 but the second-biggest cryptocurrency added another 6% of value in the past day and it is now trading below $1700. UNI which is the latest representative of the top ten coins by market cap, increased by 7% and spiked above $30 while Polkadot increased by 1%, LTC by 1.5%, and LINK by 3%.
In contrast, Ripple, Binance Coin, and Cardano painted minor losses on a daily basis while the most significant gainer from the top 100 coins is Ocean protocol with a 35% surge, Bancor with 10% surge, and OMG with 10% as well.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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