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The Cryptocurrency Market Witness some Calmness with BTC back at $57k
Published
1 year agoon
Within the last 24hours, Bitcoin (BTC) the world’s largest cryptocurrency by market capitalization has dropped to a level below $56k and has recovered today 8th April, 2021 as the digital asset is currently trading above $57,000 at the time of writing this publication.
For the past weeks, the digital asset has been ranging between the $55k and $59,000 levels struggling to break the $60,000. Bitcoin dominance (BTCD) also is said to have been on a downtrend for some days and it broke 55% on Tuesday as reported by CryptoTVPlus.
See also:BTC Dominance Below 60%, Alts Season Follows
This reduction in Bitcoin dominance gave rise to Alts to party and traders in the crypto community have welcomed the awaited “Alts Season”. But with surprise yesterday, 7th April, 2021, the Bears brought correction to the Bitcoin market with the digital asset dipping to 55k levels.
Alts Recover from the Dip
The Alts market witnessed reds yesterday with the downward price movement of Bitcoin to 55k but the market seems to be recovering with the digital asset back at $57,000+. Ethereum (ETH) is back at $2,000+ and Binance native coin (BNB) is currently trading above $400.
Amidst the dip yesterday, there are some coins worthy of mention that did well in giving good returns to holders and investors. Solana (SOL) was up 27% yesterday, Origin token of the Origin protocol (OGN) although witnessed a dip yesterday is up with over 40%.
With the continuation of the Alts’ season, there are other coins traders should put on their radar and watch list. District0x (DNT), Numeraraire (NMR) and Streamr DATAcoin (DATA). It is important to note that this is no financial advice and traders are advised to carry out personal research on the coins mentioned.
