Cryptocurrencies have staged a recovery on Monday after prices fell over the weekend. Analysts say that Bitcoin has found support at $36,000-$37,000 levels, while Ether inches closer to $2,800. Check the latest prices and trends.
Cryptocurrency assets were trading positive on Monday even as the impact of the Chinese crackdown continues to affect the value of digital coins.
While volatility hit cryptocurrencies for the past one month after a series of tweets by Tesla CEO and China’s crackdown, it seems that the value of such assets is recovering, albeit at a much slower pace than the meteoric rise earlier this year.
Another observation by crypto experts is that virtual coins are not witnessing wild price swings and some level of consolidation has been seen over the past few weeks.
For instance, the world’s most popular cryptocurrency, Bitcoin, has found support at $36,000-$37,000 levels, while smaller rival Ethereum (Ether) has managed to stay above $2,700. The price fluctuations have been much less in comparison to the situation almost a month ago.
At 9:50 am, Bitcoin’s value was up over $36,500, up over 1 per cent from its price 24 hours ago. Meanwhile, Ether is inching closer towards $2,800, up over 2.60 per cent.
Other cryptocurrencies like Ripple, Cardano, Dogecoin, Stellar, Chainlink, Polkadot and Litecoin have seen witnessed higher stability. This could be a good signal for people who want to invest in cryptocurrencies.
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This article is all about the cryptocurrency Bitcoin and how it has helped in the growth of dark web activities.
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