Bitcoin had a good day, hovering around $ 35.000 again. But Cardano, Dogecoin and XRP had a better one, with gains of over 10% in 24 hours.
Cryptocurrency traders today managed to recover from a panic episode that resulted in Bitcoin dropping below $ 30.000, losing all the gains the cryptocurrency had sustained this year. It was a good day for BTC holders, but even better for investors in Ripple's Dogecoin, Cardano and XRP.
The recovery of the markets
Bitcoin hit $ 35.000 again today. The recovery, while relatively modest, is important because in the short term, it shows that the bulls are not yet willing to concede a BTC price of $ 30.000 or lower.
But it's not yet time to get the champagne bottles out. Bitcoin is doing exactly what keen observers would expect: bounce off the average price and then drop again. To say that there is a new uptrend, experienced traders are likely to be waiting for a break above $ 40.000.
Even today Bitcoin appears to be following the movements of traditional markets, as shares have also shown marginal gains. In addition to Amazon and Apple (Apple shares - ticker AAPL), the major companies in the tech market are showing very positive numbers, with Tesla in the lead, perhaps due to the resentment of the Bitcoin maximalists who have a new villain in Elon Musk.
And if Bitcoin is moving at the pace of the stock market, even the most important altcoins in the cryptocurrency market have followed the pace set by Bitcoin, even surpassing it.
Ready to uncork champagne?
Cardano, Dogecoin and XRP shine today among the top 10 crypto assets by market capitalization, with returns exceeding 10% in the last 24 hours.
Elon Musk's favorite coin, Dogecoin, was up 14,68% on the day. This may have something to do with the fact that the DOGE developers are working on a proposal to reduce transaction fees on its network by 90%.
ADA also increased by 14,48% in the past 24 hours. ADA fans may be excited about the upcoming release of the Alonzo hard fork, which will allow support for smart contracts, making it possible to have "DeFi" on Cardano (DeFi, short for cryptocurrency-based financial products that work without third-party intermediaries. parts, is mainly found on Ethereum today).
XRP, meanwhile, was up 12,25% over the course of the day. The coin is, of course, synonymous with the software company that generated it, and Ripple's recent court wins against the SEC may have sparked some optimism among XRP owners.
Overall, around 90% of the top 100 cryptocurrencies by market cap today are in green, which means cryptocurrency investors around the world have reason to smile, at least for a few hours.
