Bitcoin News

Another Failed $20K Bitcoin Attempt

The previous week, when the US Federal Reserve’s actions caused it to decline to a three-month low of $18,100, saw significantly less volatility for Bitcoin.

The investment gained some ground and stabilized at about $19,000. It actually stayed there for the majority of the weekend and even Monday.

The cryptocurrency’s price experienced its first significant change on Tuesday, rising to a 12-day high of $20,400. The bears pushed the asset sharply south as the bulls were getting ready for yet another leg up, serving as a reminder of their power in the market.

BTC fell below $18,000 in a matter of hours before resuming trading in the range of $19,000 to $20,000. In the final moments of Friday, bitcoin surged once more, reaching $20,000 before being stopped and falling back to its current level of $19,300.

However, BTC now holds a 39.5% market share, up about 2% in a week. Even 40% was reached earlier this week.

Less volatile alternatives

As a result of yesterday’s failure to register significant gains, alternative coins are currently behaving somewhat calmly than usual.

Continued post-Merge difficulties for Ethereum. Just over two weeks ago, when the switch to PoS was complete, it was trading above $1,600, but in the days that followed, it crashed to $1,200. Although it has since gained some ground, it has been unable to climb above $1,350.

The recent success of Ripple may have been attributed to the favorable developments in the SEC case. After touching $0.5 yesterday, XRP has since slightly reversed course by 3% in one day. On a daily basis, Binance Coin, Cardano, Solana, and Polkadot are all marginally down.

Uniswap and QNT are the only mid-cap alternatives with noticeable gains at the moment.

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