Market Cap: Crypto Market Cap is back at $1 Trillion while Bitcoin reclaims $36,000
Today is a different day for the Cryptocurrency industry as most of the assets have re-entered the “Green Zone” with Bitcoin reclaiming $36K while Ethereum is trading above $1,100
The week could not start worse as BTC plunged below $31,000 leading the whole Cryptocurrency industry to the “Reds” while $200 Billion were evaporated from the total Crypto Market Cap. However, the primary cryptocurrency managed to recover the half part of the losses jumping back at $36,000.
New Year, New All-Time High records
First 10 days of 2021 were impressive for the Blockchain industry and the Global Economy as BTC was marking another All-Time High record for 10 consecutive days, with the highest ATH record being at $41,000.
It is obvious that the Master of the Cryptos would have to stop somehow, as Bears were remaining idle for a long period. Nevertheless, Bears decided to act on Monday morning by leading the price to the south from $41K to $30K where it was trading for a couple of hours before Bulls make their move and reclaim the half part of the losses at $36,500.
If the world’s largest Cryptocurrency wants to retrace the whole part of the lost ground, then it will have to beat some of the next resistance lines at: $37,000, $38,000 and $39,000.
“Green” zone Matters
After the huge massacre, alternative coins seem to recover slowly slowly as they are following their King to the north.
As of writing these lines, Ethereum is back at $1,100 having gains of almost 7%, while Litecoin and XRP are marking increases of %5 and 13% respectively.
Meanwhile, some of the the rest altcoins such as Polkadot , DOT and Stellar have marked the most gains from the top ten list while XLM is up %25 and currently trades above $0.30.
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