Bitcoin Tests $45K While Cardano Exploded 30%: Price Analysis

Bitcoin tests $45K while Cardano exploded 30% in the past week and now BTC is reaching this level for the third time so let’s read more in our latest altcoin news today.

It has been an interesting week in the crypto space and we are finally seeing some green on the markets. The market recovered the $2 trillion total cap mark as the majority of the crypto charted some bigger gains so all in all the total marekt cap is up by $200 billion over the past week. Bitcoin tests $45K as it surged by 8.4% over the same period and tested the $45,000 resistance but this is also the third time the cryptocurrency is coming against this level and it is important to see how it can perform this time.

The majority of crypto followed suit and most of them are in the green and performed a  lot stronger. The case in point is Cardano’s ADA which was exploited by a stunning 32% on the weekly and reclaimed the $1 level and tested the $1.2 resistance but then it failed to overcome it. The altcoins performed really well and ETH is up by 11%, BNB lags with a 5.6%a while Soalan managed to hit 14% the same as DOGE.
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We also saw some major infrastructural developments this year and the oil and gas giant Exxon said that they will be using excess natural gas to mine BTC. This is a big deal because Exxon is a huge player in the oil production field and it can deliver a case study on BTC mining being used to stabilize the production of oil. In the meantime, the central bank of the UK also seems to be stepping up the efforts to regulate the industry and prompted the local banks to provide more details on how they can treat the asset class and gave them more time until the start of June this year. All in all, the week was fruitful and there were plenty of meaningful developments that were reflected in the price action so it is interesting to see if the momentum can transition to next week.

As earlier reported, Bitcoin regained ground and continued to move ahead after the weeks of struggle and neared $45,000 which is an increase of 1% over the past 24 hours and a 19% increase over the past 30 days.