Both Ethereum and Bitcoin have certainly been busy over the weekend, as both have managed to recover a considerable amount of gains, respectively. Bitcoin has been able to overcome the drop to $54,000 by adding more than $2,000 to its value. This, in turn, resulted in it taking a vital step forward as it overcame the $56,000 mark. Ethereum, on the other hand, has recovered $1,700, and BNB saw the biggest increase as it jumped towards $275. Some altcoins have also subsequently managed to experience their own gains in the previous 24 hours as well, whereas others have remained stagnant.
$56,000 finally recovered by Bitcoin
BTC holders can breathe a sigh of relief as the cryptocurrency finally managed to go back to the price of $56,000 following a recent drop to $54,000. There had been even more cause for alarm when the price had actually dropped close to $50,000, which was also a three-week low for the world’s largest cryptocurrency. As of the time of this writing, the intraday-high had been set at $56,500, and although it did retrace a couple of hundred dollars, the amount still rests at over $56,000.
Interestingly enough, data suggested that both BTC and ETH are still relatively considered to be bearish, as is indicated by social sentiment. However, prices generally move in the other direction of the crowd and social expectations, and so we can expect potential increases in price to take place for the world’s two biggest cryptocurrencies.
BNB shoots up 9% as ETH retakes $1,700
ETH’s price has actually managed to increase lately despite some expectations surrounding a potential decrease in the short term. It is because of this that Ethereum has bounced back from its dip to $1,550 to just over $1,700.
BNB (Binance Coin), on the other hand, is said to have outperformed all of the other altcoins as it managed to experience a 9% spike. It is due to this that BNB increased from its drop of $225 to its current price of $275. Furthermore, both THETA, as well as Litecoin (LTC) have also experienced surges of both $13 and $185, respectively. Other altcoins such as ADA, UNI, XRP, and DOT have more or less remained stagnant within the last 24 hours.