After a few days of dips, bitcoin has finally rebounded adding $ 4.000 to its value. Most alternative currencies are also doing well in the "green field", with impressive daily increases from Ethereum, Solana, Polkadot, Terra, The Sandbox and more.
Bitcoin hit $ 58
Since last Friday, when news of a new variant of the COVID-19 virus leaked, the price of the primary cryptocurrency has been affected. It went from a daily high of over $ 59.000 to a low of $ 53.500 in hours, resulting in nearly $ 1 billion in liquidation on a daily scale for leveraged traders.
The weekend saw a brief recovery attempt where BTC broke above $ 55.000 but was short lived as the bears intercepted the move. As a result, they pushed bitcoin south again and the asset found itself at around $ 53.500 once again just a few hours ago.
However, this is where the landscape changed. Instead of going further south, BTC started clearing the land and jumped over $ 4.000. As a result, it hit $ 58.000, but is now slightly behind at just over $ 57.000.
Its market capitalization, which was close to falling below $ 1 trillion yesterday, is now nearly $ 1,1 trillion.
Altcoin in recovery mode
Altcoins also fell heavily as bitcoin was discharging. Ethereum dipped below $ 4.000, and while it tried to rise above $ 4.100 over the weekend, it stayed below it most of the time. Now, however, a daily 7% increase has taken the second cryptocurrency well above $ 4.300.
Binance Coin recovered $ 610 after a daily 5% increase. Solana (8,5%), Cardano (6%), Ripple (6%), Polkadot (8,5%), Dogecoin (3,5%), Avalanche (4,5%), Shiba Inu (4,5 %) and Terra (6,5%) are all in the land of greenery.
Most earnings come from The Sandbox (22%), Zilliqa (17%), Gala (17%), Stacks (14%), Token KuCoin (14%), WAX (14%), PancakeSwap (13%), Enjin Coin (12%), and others.
The market capitalization of cryptocurrencies increased by over $ 130 billion in one day and topped $ 2,7 trillion on CoinGecko.
If you are interested in buy Bitcoins, we recommend that you take a look at our in-depth guides, remembering never to invest more than you can afford to lose in this highly volatile market.
