What’s the Latest Situation in Cryptocurrencies? Are Experts Expecting a Fall or a Rise?

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After the sharp declines in the crypto money market, Bitcoin and altcoins started to recover again. So much so that the leading cryptocurrency Bitcoin (BTC) started a rapid increase the other day and touched the level of almost $ 42,000.

With this increase in Bitcoin, large price increases were recorded in many altcoins. Here is the latest situation and current data in the crypto money market;

Bitcoin Struggles For $42,000

Bitcoin (BTC), the world’s largest cryptocurrency by market cap, has been trading below the $40,000 level for a long time. However, although Bitcoin has been testing the critical region of $40,000 from time to time until the past day, it has not been successful.

However, with the price increase experienced yesterday, BTC broke this region and started to rise rapidly. So much so that with this increase in Bitcoin, the price even approached the level of 42,000 dollars.

Although BTC is currently pulling back a bit, many analysts predict that if the price of Bitcoin manages to hold in this region, the price may target even higher.

As of the time of writing, the leading cryptocurrency Bitcoin (BTC) continues to trade at $ 41,531, with a decrease of 0.12% in the last 24 hours, according to CoinMarketCap data.

Big Increases in Altcoins

With the attack of Bitcoin, there was also activity in the prices of altcoins. So much so that Ethereum, the second largest cryptocurrency in terms of market value, rose above $ 3,000 with the effect of the increase in the market the other day.

Although the Ethereum price occasionally falls below $ 3,000 again, the bulls are struggling to maintain the critical level of $ 3,000.

The popular altcoin ETH continues to trade at $3,011, down 0.58% in the last 24 hours, according to CMC data as of the time of writing.

On the other hand, when we look at other altcoins, Binance Coin (BNB), the 3rd largest cryptocurrency, was also positively affected by the price increase in Bitcoin. While BNB was trading in the $300 band recently, it started a new uptrend as of yesterday and the price rose to the level of $430.

As of writing, BNB is trading at $413, down 3.73% in the last 24 hours.

Also, when we look at other cryptocurrencies in the top 10, Cardano (ADA) is trading at $1.12, down 4.32% in the last 24 hours, Solana (SOL) is down 3.72% at $112 in the last 24 hours, Ripple (XRP) is trading at $112 in the last 24 hours. Down 1.06 at $0.66, Terra (LUNA) down 3.52% at $55 in the last 24 hours, Polkadot (DOT) down 4.25% at $21 in the last 24 hours, Dogecoin (DOGE) down 1.79% in the last 24 hours at 0.14 and Avalanche (AVAX) continues to trade at $77, down 3.97% in the last 24 hours.