Bitcoin has regained some ground after two days of price declines and now trades at roughly $36,000.
Terra, Avalanche, Shiba Inu, and a slew of other cryptocurrencies have seen significant double-digit price increases.
Bitcoin is currently valued around $36,000
The principal cryptocurrency’s performance over the last few days has been mixed. The asset reached a multi-day high of $43,500 on Thursday, thanks to a quick price pump.
But this is when it all went wrong. Bitcoin’s value began to plummet quickly, and by the next day, it had dropped below $38,000. Since early August, this has been the lowest pricing point.
Despite the fact that this was a sharp drop in and of itself, the bears reinforced their hold on the market. As a result, BTC fell another $4,000, bringing it down to roughly $34,000. In contrast, this was the lowest price point since late July.
BTC, on the other hand, has gained over $2,000 since then and currently stands at $36,000. Despite this, the company’s market valuation remains significantly below $700 billion.
Altcoins made an impressive comeback
The altcoins have been hit much harder than BTC in recent days, with significant price declines. On a daily basis, though, most are now in the black.
Ethereum fell by around $1,000 in two days, reaching a low of $2,300. ETH, on the other hand, has gained more than $200 in value and is now trading at over $2,500. Ripple and Solana both have comparable benefits.
Binance Coin, Cardano, Polkadot, Dogecoin, and MATIC, on the other side, have all regained approximately 10%. Terra (20%), Avalanche (13%), and Shiba Inu (21%), on a daily basis, bring in the most gains. SHIB, on the other hand, is up around 40% from yesterday’s low.
Finally, since yesterday’s low, the cryptocurrency market capitalization has risen by $130 billion to approximately $1.7 trillion.
