Bitcoin Fights to Stay Above $40K, Ripple Up 7%
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Answer Bitcoin Fights to Stay Above $40K, Ripple Up 7%
Most of the cryptocurrency market is in the red at the time of publication, as Bitcoin struggles to reclaim the $40,000 level.
While there are cryptocurrencies that made the exception and tweeted out of the flock like Ripple and Dogecoin.
Bitcoin hovers around the $40K level:
Despite some moves with small green candles, the first half of April has not been kind to the cryptocurrency market.
Bitcoin, for example, started the month around $46,000.
Since then, the currency has gone through some major turmoil, at one point dropping below $40,000.
Yesterday, April 14th, was a relatively positive day for the leading cryptocurrency as the coin held the $41,000 level and even crossed the $42,000 level at some point.Read:After five years of development … the launch of the awaited update of the Cardano blockchain
In the last 24 hours, after the red trading session on Wall Street, the bears took control and dragged Bitcoin back below $40K.
Bitcoin managed to recover some losses and is currently trading at just over $40,000, which is roughly 2.2% lower than its valuation 24 hours ago.
The total market capitalization of Bitcoin is now (at the time of publication) around $763 billion.
Ripple and Dogecoin in the green:
As it usually happens, most altcoins have followed Bitcoin and are also colored red.
The second largest cryptocurrency, Ethereum, is down 2.5%.
Luna has lost about 5% of its valuation despite multiple bitcoin purchases of the protocol in the past few weeks.
The digital currency NEAR, which is also one of the currencies that grabbed the spotlight in the recent period, also trended lower, dropping by 6%.
While, as we mentioned above, there are some digital currencies that made the exception, such as Ripple and Dogecoin.
XRP is up more than 7% and is currently trading at around $0.8, the highest level since last week.
The first ever meme coin also trended higher, posting an increase of nearly 2%.Read:The “Crypto.com” project faces a backlash from the community after the decision to cut rewards…Details here
DOGE coins are often praised by the world’s richest person, Elon Musk.
Yesterday, the CEO of Tesla made a $43 billion bid to acquire one of the world’s largest social media platforms, Twitter, which may have been a bullish factor for DOGE.
The global cryptocurrency market cap is now $1.87 trillion, down 2% from the day before.
The highly anticipated Ethereum upgrade may arrive later in June 2022
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