The leading cryptocurrency Bitcoin has experienced sharp drops in the last period. So much so that the last drop in Bitcoin (BTC) resulted in the price falling to $ 33,200.
In addition, with these sharp decreases in Bitcoin price, there were great losses in altcoins.
However, as of the past day, the flagship cryptocurrency has changed direction and started a rapid increase. This upward movement in Bitcoin was also positively reflected in the price of altcoins.
Bitcoin (BTC) Approaches $38,000
Bitcoin, the largest cryptocurrency in terms of market value, started to recover rapidly after consecutive sharp price drops. So much so that while the leading cryptocurrency was trading at $ 33,200 in the past days, it has managed to rise to $ 37,700 as of today.
In addition to this upward move in Bitcoin, some analysts think that the leading cryptocurrency will continue to rise, while others predict that the price will drop even more before the big rally.
As of the time of writing, the flagship cryptocurrency continues to trade at $37,666, up 4.32% in the last 24 hours, according to CoinMarketCap data.
What is the Latest Situation in Altcoins?
With the rise of the leading cryptocurrency Bitcoin, altcoins that had suffered great losses before also changed direction and started to increase rapidly.
So much so that Ethereum, the second largest cryptocurrency in terms of market value, fell below $ 2,200 in the past days, while touching the level of $ 2,500 with the rise of the market.
As of the time of writing, the popular cryptocurrency continues to trade at $ 2,481 with an increase of 3.95% in the last 24 hours, according to CMC data.
On the other hand, Binance Coin (BNB) is up over 5%, trading at $382.
Cardano (ADA) is trading at $1.05, up 3.33% in the last 24 hours, while Solana (SOL) is up at $95.52, up 6.23% in the last 24 hours.
