The Bitcoin weekend recovery starts with a $3K rebound over the past 24hours, while ETH eyes $1500 and ADA spiked to the third positions by market cap so let’s read more in our latest Altcoin news.
Following the adverse developments on the market where BTC dropped to $44,000, the asset managed to recover and overtook the $47,000 market with most altcoins taking a breather after the latest bloodbath with Polkadot and Cardano exploding with double-digit percentages. The Bitcoin weekend recovery didn’t go well for the BTC bulls with the asset plummeting by $13,000 in the first few days and hit $45K with the cryptocurrency bouncing off initially and reclaiming $50K.
The bears are the main force that is pushing the price south and BTC even fell more in the past day to a low of $44,200 which became the lower price tag since February 11. The bulls reacted right there and initiated a leg up that resulted in a $4000 increase so BTC retraced slightly but it still 2% since a day ago, marking a level of $47,000. The technical aspects show that BTC will be able to rely on the support levels at $44K, $42,760, and $41K if another bloodbath occurs. BTC could resume the bull run in 2021 if it manages to reconquer the resistance lines of $47,200 and $48,000.
The altcoins suffered more in the past few days as the total market cap lost about $400 billion in 7 days. BTC and other coins are in the green for the past 24hours and the market added another $100 billion. ETH is up 5% and nears $1500, BNB is up by 7%, Ripple increased by 4%, Litecoin by 6%, and LINK by 6% as well with the price bouncing off from yesterday’s drops and adding substantial chunks of value.
Polkadot and Cardano outperformed the rest of the top ten massively. DOT surged by almost 20% to $34 while ADA skyrocketed by over 30% to a new 3-year record high of $1.3. ADA also surpassed BNB and became the third biggest digital asset by market cap. The Dubai-based crypto investment fund announced that it will dispose of its BTC holdings and will purchase DOT and ADA. Other fluctuations were notable from Polygon as it increased by 30%, Elrond by 26%, BAT by 16%, and SushiSwap by 15%.
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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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