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Bitcoin rebounds to hit the $50,000 level

written by Bella Palmer
bitcoin-rebounds

Binance Coin, Solana, Ripple, Dogecoin, and Shiba Inu are also slightly in the green

After a 24-hour hiatus below the coveted $50,000 mark, bitcoin (BTC) has rebounded and reclaimed it. Most altcoins are also slightly in the green, while Cardano and Polkadot were in focus with impressive 8% gains on a daily scale.

It was just several days ago, before Christmas, when bitcoin – the largest cryptocurrency in terms of market capitalisation - struggled at $48,000 after unsuccessful attempts to overcome $50,000. The landscape changed at that point when the bulls initiated an impressive leg up that resulted in finally breaking above that level.

Bitcoin kept climbing in the following hours and came near $52,000 for its highest price line in more than two weeks. Yesterday, though, BTC tumbled by a few thousand dollars and found itself below $50,000 once again.

Yet, the asset reclaimed that line in the past 24 hours by hitting $51,000 earlier today. Now, BTC stands above $50,500, and its market capitalization is more than $950 billion.

Most alternative coins have followed BTC’s performance as of late, and the past 24 hours are quite similar. Ethereum went down to $4,000 yesterday, but a minor daily increase has reaffirmed its stance above that particular level.

Binance Coin, Solana, Ripple, Dogecoin, and Shiba Inu are also slightly in the green, while Terra has marked a minor retracement.

Avalanche has climbed 4.5% in a day to above $115. However, Cardano (ADA) and Polkadot (DOT) have been the standouts with impressive 8% increases. Consequently, ADA now stands near $1.55, while DOT has reclaimed $30.

Even more gains come from Kadena (26%), Voyager Token (15%), Zilliqa (15%), Theta (14%), Aave (13%), Oasis Network (12%), Uniswap (12%), Mina (12%), Helium (12%), Monero (11%), and others.

Disclaimer:

The opinions expressed by our writers are their own and do not represent the views of UK Investment Guides. The information provided on UK Investment Guides is intended for informational purposes only. UK Investment Guides is not liable for any financial losses incurred. Conduct your own research by contacting financial experts before making any investment decisions.

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