Recovery on the cryptocurrency market. Bitcoin has broken through the psychological limit

Recovery on the cryptocurrency market.  Bitcoin has broken through the psychological limit

Bitcoin hasn’t been this strong in three months. The main cryptocurrency broke the $30,000 mark again. Others follow suit.

The cryptocurrency market continues the recovery that began on October 13. It was then that the price of Bitcoin began its rapid growth, which, as usual, also led to other digital assets. Currently, the largest cryptocurrency is testing the level of $30,000, which investors have not seen since July 2023.

However, it should be remembered that despite the optimism prevailing on the market, Bitcoin still remains at over 56%. below its historical maximum (ATH – All-time-high), which amounted to over $68,000.

Bitcoin up. The crypto market recovery continues

Currently, the Bitcoin price remains around $30,000. Sometimes it is slightly above this limit, and sometimes it falls below it. It is clearly visible that the principle of technical analysis, hated by some investors, is at work. After reaching the limit tested in July, investors lost enthusiasm for further purchases, and some of them are taking profits. If you bought the largest cryptocurrency almost exactly a year ago, you can now enjoy a profit of more than 56%. Bitcoin now valued at 29.9 thousand. dollars increased by over 11% during the week.

The largest cryptocurrency is followed by its slightly smaller brother – Ethereum. Although the ETH rate is growing slightly slower, by 5% on a weekly basis, it is also more expensive by over 25%. from the level from last year. However, it is still further from its peak than Bitcoin. At the peak, on November 16, 2021, you had to pay as much as $4,892 for one Ethereum, i.e. nearly 67%. more than currently.

Altcoins up

Smaller cryptocurrencies are also gaining strongly. Strongly linked to ETH, Solana increased in price by as much as 30% in seven days, returning to over $28 per piece. The eighth one has much weaker growth due to the capitalization of Cardano, as well as the so-called memecoins – such as Dogecoin or Shiba Inu.

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