The first day of 2022 ended in the green as Bitcoin managed to add some more value in the day and stands above $47,000 as we are reading more today in the latest altcoin news today.
Following yesterday’s minor price drops, the first day of 2022 ended in the green as most of the crypto market is in the green and this includes a slight increase from BTC to above $47,000 with some more gains being evident from Polkadot and Avalanche. As 2021 was coming to an end, Bitcoin was stuck below $47,000 but the sudden price pump drove it above $48,500. However, the market changed in the next few hours, and instead of charting more gains, BTC reversed its trajectory and dumped by $3000 which eventually culminated in a drop to below $46,000 which became the lowest price tag in 11 days.
Bitcoin started to reclaim some of the lost value in the past day and the bulls over $1000 within the same timeframe and now BTC stands above $47,000 following a minor 24-hour increase. The asset’s market cap is now under $900 billion. Most larger-cap altcoins mimicked bitcoin’s performance lately and the past 24hour was not an exception. Ethereum is up on a daily scale and the second biggest crypto is still unable to reclaim the $3800 price range.
Binance Coin increased by 1.5% and trades above $520 and some gains are evident from Ripple, Terra, Solana, Dogecoin, SHIB, and Cardano. The two best performers from the larger-cap altcoins are Avalanche and Polkadot. DOT increased by 6% and stands at about $30 while AVAX jumped by 5.5% and sits at $116. More gains came from Revain that increased by 17%, ICP increased by 12%, Curve DAO Token increased by 11% and Fantom increased 10%. the crypto market cap is up by $40 billion in a day to about $2.250 trillion.
As recently reported, Following yesterday’s sudden price pump to $48,000, BTC headed right sought and dipped below $46,000 hours later with the other altcoins also being in the red with over $60 billion gone from the crypto market cap. After failing to overcome $52,000 earlier this week, BTC dumped by $5000 in a few days and the asset struggled below $47,000 for a few consecutive days. The situation changed rapidly yesterday when the crypto initiated a price pump which drove it north by more than $1500 and then managed to surge to $48,500.
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