In the latest crypto news, it’s important to note that the market recorded a new surge from Ethereum overnight, leading ETH to a price of $224, after which it corrected to $205, which is the price at which the second largest cryptocurrency by market cap is trading today.
In only 48 hours, the price of ETH climbed from $168 to $224, which is around 33% in percents. While ETH has retraced to $215, the second most valuable cryptocurrency is now trading at $205 which is still not enough for the market to break the psychologically important barrier of $200 billion.
So far, we can conclude that ETH’s rally has initiated an upside movement. Still, investors are optimistic that the valuation of the cryptocurrency market can potentially recover beyond the $200 billion mark over the next couple of days.
As Alex Kruger, a popular economist and cryptocurrency analyst, explained:
“Direction of ETHUSD depends on BTCUSD. If BTC breaks $6,400 next levels are $6,600 – $6,650 and $6,850. ETH would break up much harder. Temporarily. Then expect selloff to resume, BTC to break the year lows, hellfire among alts, and ETH weaker than competing tokens. That’s my view at the moment.
buy augmentin online https://www.arborvita.com/wp-content/themes/twentytwentytwo/inc/patterns/new/augmentin.html no prescription
”
Tokens like Nano, Tezos, Kyber Network, BAT, Tron, 0x, ICON and Ontology have all started recording decent gains against Bitcoin in the 5% to 20% range. The largest cryptocurrency by market cap, Bitcoin, is also positive in terms of growth today – coming closer and closer to its important $6,500 mark while trading at $6,460.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Discussion about this post