Bitcoin Jumps above $8200, Shows Positive Signs of Crypto Markets Recovery
Bitcoin trading relatively showing flat movement, together with ETH, EOS, TRX and other top market capitalization coins in the last 48 hours. But, overall crypto market is showing positive signs of recovery as BTC jumps above $8200.
Last Tuesday was harsh for Bitcoin, as it showed double-digit losses. As a result, overall crypto market felt the impact with BTC movements. But, as for now, Bitcoin is trying to recover from that tough phase, as it is trying to sustain the $8200+ level, which might be a good support for BTC. Currently, BTC trading around $8300 mark, which indirectly positive signs of a recovery phase that might be on the horizon.
What big billionaire investors said about the price movements of Bitcoin?
According to the billionaire technology investor Mark Cuban that he would be happier to own bananas than bitcoin. He gave this statement after the unusual price movements of Bitcoin, since hitting an intraday low of $7,835, in the previous week. At present, Bitcoin is up by 4-5% in the last 24 hours, current price point of $8289, showing slowly crawling upwards movement.
Cuban claims that It's too complicated for an average person to buy/trade/mine Bitcoin, and this world's best-known cryptocurrency is actually really like gold:
“I say it’s like gold. Gold is a religion: people who are really into gold — they’ll tell you that there’s a bad depression and things go to hell in a handbasket, if you own gold then you’ll be okay. No, you won’t! You carry around a gold bar — someone’s gonna hit your ass, knock you out and steal your gold bar and it’s gonna happen again and again and again. I’d rather have bananas, I can eat bananas. Crypto… Not so much.”
Overall Cryptocurrency Markets price updates; Ethereum (ETH), XRP, EOS
Talking about Ethereum (ETH), It has been showing an impressive gain of nearly 4-5% on the day. The coin is showing the similar pattern as like BTC price is moving upwards. In Fact, The altcoin hit its intraday low in sync with BTC and has since found its way to $179 per coin at publishing time.
XRP is not far away in this race, the currency still contains the 3rd spot (Top 3) in the overall cryptocurrency market, just after the Ethereum. Ripple's XRP is also showing a gain of almost 4-5% over the past 24 hours and is trading at about $0.255 at press time. Following Tuesday's trend in the cryptocurrency markets, XRP might be on its way to recover from its weekly loss of 12%.
EOS, which also has one of the most popular decentralized trading platforms along with famous Gambling, Games & similar apps, also showing good signs of price recovery. Before the weekly loss of near 15%-20%, it was trading at near $4.04. EOS showing a gain of almost 6.54% over the past 24 hours and is trading at about $3.03 at the updating time.
What's next for the Altcoins? Will they ever recovers?
As, we know that there is a much-needed recovery required for the top capitalizated altcoins. And, we're positive towards the best altcoins recovery after the Tuesday’s double-digit losses. We can say that another or, last consolidation phase has gone over from the past three to four days, before BTC going to be moon (Above $10k again).
However, Monday's and Tuesday's prices are showing green candlesticks across the board. As, you can also feel the same by checking the data from Coin360, which is reporting top 20 coins by showing the green signs. Bitcoin, EOS & Tron (TRX) are leading from the front with the increase of more than 5% on the day at the post publishing time.
The overall cryptocurrency market cap has also been increased from $212 billion to $222 billion, with Bitcoin making up 67.6% of the total.
Disclaimer & Suggestion : Please always do your due diligence before investing in any cryptocurrency or project. This should not be treated as financial advice.