Yesterday, Bitcoin (BTC) hit a new low for the first time since June 22, 2021, slipping below the $ 30,000 mark. On Tuesday morning, Bitcoin was still trading at $ 29,703, down 6,53% from the previous day. Although Bitcoin was able to break through the 30.000 US dollar mark in the night from yesterday to today – you can not breathe deeply yet.
Bitcoin breaks through the $ 30,000 mark again
Thus, the Bitcoin price is on recovery and banishes the breakout level of 20.000 US dollars for the first time, but the situation remains critical for the first time. In order to really get going again, a rebound towards resistance in the $ 35,000 range would have to come-but for this the impulses seem to be missing at the moment.
Recovery only in sight from above the $ 40,000 mark
While there is good news for the entire cryptocurrency market in the short term, Bitcoin investors are still tight at the moment. Because a recovery of the Bitcoin price would only be noticeable above the 40.000 US dollar mark. Whether and when Bitcoin will move back above the upper limit of the sideways trend is currently still uncertain.
First, however, the signs point to stabilization and the continuation of the recent sideways trend. Should the upward trend continue, a long-term recovery could occur. Given the current upward trend in the cryptocurrency market, this would be very likely.
Bitcoin and altcoins increase-recovery in sight?
Not only Bitcoin, but also altcoins were able to recover significantly within the last 24 hours. Ethereum (ETH) also rebounded above the $ 1,750 resistance level. The next major resistance here is near $ 1,880. Other coins were also able to increase in the last hours, overall, the cryptocurrency market seems to be on a recovery course.
Within the last 24 hours, the global crypto market has increased by 4,18%, with the clear winners altcoins such as THORchain (RUNE) with an increase of 21.98%, Quant (QNT) with an increase of 18.65% and Polygon (MATIC) with an increase of 17.96%. In general, there now seems to be an upward trend of altcoins.
Last updated on July 21, 2021
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