When sharp correction came to cryptocurrency market last week, everybody was hoping for it to pass out soon and not convert into a bear phase. Fortunately, that seems to be happening now, as major cryptocurrencies have all gained today ever since the opening of markets. Bitcoin, Ethereum, XRP – all have reclaimed their levels prior to the correction, which means that we may be headed towards a further rally in the coming days.
First of all let’s talk about Bitcoin. The dominant cryptocurrency is trading once again pretty close to $8,000, and for brief moments it has went above $8,000 too. At the time of writing this story it’s trading at $7,994. Ethereum is also above $250 once again, and XRP is trading at $0.40. All these levels were touched before the sharp correction of Friday, so it’s nice to see that they’re being touched once again. We may very well be headed towards a stable $8,000 level for Bitcoin, a stable $250 level for Ethereum and a stable $0.4 level for XRP.
Other cryptocurrencies in the top 10 are also having a party. Bitcoin Cash is trading at $406 – a crucial level reclaimed after its hard fork that created BCHSV. EOS is trading at $6.28. Litecoin is slightly down from the previous day, but still way above than its record low levels at $92. Binance Coin, which has been surging for a long time now, is trading at $28.91, while TRON is trading at $0.28.
It will be very interesting to see how things shape up from here. The world is awaiting eagerly for Bitcoin to go above $10,000. Let’s see when does it happen!