Ethereum Surges to Weekly High of $2,000, Bitcoin Regains $5K in Two Days
The cryptocurrency market is in a recovery phase with Bitcoin attaining the level of $35K and Ethereum surging to the level of $2,100 following the plunge. The bulls in the market gathered together to push the asset in the upward direction and along with this, most of the altcoins are also in green.
Bitcoin and Ethereum Surges After Crash
At the beginning of the weekend, the bears in the market were more powerful, and they contributed heavily to the fall of Bitcoin. Well, due to the pressure of bears in the market, Bitcoin lost around $3,000 of its total value and plunged to a low of just over $30K.
The bulls took over before breaking the low and within a week, the situation changed notably.
In addition to this, more positive price actions were witnessed in the primary cryptocurrency, and it surged from the $32,400 mark to an intraday high of $35,350 mark.
Moreover, at the time of writing this article, Bitcoin has surged by a few hundred dollars, though it is still near the
Altcoins Following the Lead
Following the lead of Bitcoin, the altcoins also surged and as a result of this, Ethereum jumped to the level of $1,800 and further to $2,075 from $1,700 on Saturday. This has marked the highest point in the week for cryptocurrency.
During the latest crash, it was witnessed that the native token of the leading crypto exchange Binance, BNB, was also hit hard. However, the asset has managed to go near the level of $300.
Talking about other altcoins in the market such as Dogecoin, Cardano, Polkadot, Uniswap, and Bitcoin Cash, they are all up by 5.5%, 4.5%, 4%, 6.5%, and 4%, respectively.
Apart from this, it should be noted that the native token of Internet Computer, ICP has emerged as a hero of the market and has surged around 45%.
Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.