After two consecutive days of price decline, bitcoin has regained some ground and is standing at around $36,000. Altcoins have responded even better with notable double-digit price gains from Terra, Avalanche, Shiba Inu and many more.
Bitcoin $36K. standing over
The past few days have not been good for the primary cryptocurrencies. It was only on Thursday that a sudden price pump took the asset to a multi-day high of $43,500.
However, this is where it all went south. The value of bitcoin began to drop sharply and fell to $38,000 a day later. This has become the lowest price point since the beginning of August.
Although this in itself was a sharp correction, the bears only tightened their grip on the market. As a result, BTC dropped another $4,000 and fell to around $34,000. On the other hand, it turned out to be the lowest price point since late July.
Since then, however, BTC has added around $2,000 and is now at $36,000. Nevertheless, its market capitalization is still less than $700 billion.
Altcoins With Impressive Recovery
The altcoin has suffered even more than BTC, with the price falling sharply over the past few days. Now, however, most are well in the green on the daily scale.
Ethereum fell by almost $1,000 to $2,300 in two days. Now, however, ETH has added value above $200 and sits above $2,500. Ripple and Solana offer similar benefits.
On the other hand, Binance Coin, Cardano, Polkadot, Dogecoin and MATIC have each recovered around 10%. Terra (20%), Avalanche (13%), and Shiba Inu (21%) gain more on the daily scale. However, SHIB is up almost 40% from yesterday’s lows.
Ultimately, the crypto market cap has risen to $130 billion from yesterday’s lows and is now around $1.7 trillion.
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