Most of the cryptocurrencies are in green with the world’s two largest assets having some impressive gains while the total market capitalization returns above $1.4 Trillion
In the last few days Bitcoin was struggling to remain above $48K having many ups and downs. The primary cryptocurrency broke its silence on Tuesday morning as it touched the coveted $50K price tag after many attempts. Altcoins are mostly in green with some of the most important assets such as Ethereum, recovering important losses.
Bitcoin back at $50K for a moment
The primary cryptocurrency has faced a huge price drop since 23rd of February leading the price from $51K to $43K. Nevertheless, bulls reacted on 2nd of March changing Bitcoin’s directions from south to north by adding almost $8,000 of value.
Despite the huge price increases, the happiness didn’t last for too long as Bitcoin plunged back at $49K where it currently trades.
Analysts claim that if Bitcoin wants to remain $50K zone, the currency must first overcome the resistance lines of $52,500 and $55,000 otherwise we might see the King of Coins heading back to $43K.
Altcoins go fully green
It is observed that when Bitcoin tends to increase its value, most of the altcoins follow their King. The history repeats itself and it is not a surprise that the market turned into green today.
Ethereum is back at $1,500 while Binance coin has added another 12% of value leading the price at almost $250. Polkadot and Ripple are up 6% and 3%, respectively.
All eyes are on Chainlink as the currency won the title of the best performer having an increase of 16%.
On the other hand, Cardano is probably the only asset that lost value in the last 24 hours.
The total market capitalization is above $1.5 trillion thanks to the last 48 hours gains.
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