After the collapse of last weekend, with the price that had fallen – for the first time since the beginning of March – below 48,000 dollars, Bitcoin takes up oxygen and returns to break the 50,000 thresholds.
Ethereum also did well, overwhelmed by sales in the last two days: Buterin’s crypto grossed + 10.5% in twenty-four hours and ranks within a few spans of the maximum tracked last week.
Bitcoin returns above $ 50,000
At the time of writing, Bitcoin is trading at $ 52,789, up 11.1% from yesterday’s lows of 47,499. Market capitalization, which at the height of the downturn had slipped below 900 billion, returns to 985 , although still significantly lower than mid-month volumes.
As is well known, BTC had stumbled upon a misstep after riding the maxi-IPO of the Coinbase exchange, listed on the Nasdaq two weeks ago, for days. According to analysts, Biden’s plan to revise taxes on financial profits upwards, although other currents of thought have ascribed the collapse to a physiological correction .
On the other hand, the factors that brought Bitcoin back above the psychological threshold of $ 50,000 are clearer. ” The decline is a great buying opportunity “, the CEO and founder of Copia Wealth Studios Michael Sikorosky had said last Friday , and it is to be believed that the BTC at the balance price has enticed the bulls of the crypto.
Ethereum regains altitude
On the roller coaster, then, also Ethereum , the crypto of the homonymous decentralized platform and first Altcoin for market cap, which after falling to 2,206 dollars has resumed its route and collected + 10.5% in one day, now at 2,439 .
Ethereum boasts a market capitalization of 283 billion and is still awaiting the transition to version 2.0 of the reference network, which promises to improve the scalability and security of the network and to inflate the crypto price.