Bitcoin’s price crossed $41,000 on Wednesday and most other cryptocurrencies, including Ethereum, were in green, according to data on CoinDesk.
The world’s largest cryptocurrency, Bitcoin, rebounded after remaining in the red for a week. The world’s second largest cryptocurrency, Ethereum, also made strong gains to surge over the $3,000-mark.
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Bitcoin’s price was up by 1.62 per cent to $41,423. Ethereum gained 1.72 per cent to $3,100.
“Bitcoin, Ethereum, and most cryptocurrencies have recovered after a week-long downward trend. BTC and ETH are trading above US$41,000 and US$3,000 on Tuesday. The current support price of BTC holds at US$37,000, while the initial resistance lies at US$3,000, which can stall an upside trend,” Edul Patel, CEO and Co-founder of Mudrex, said.
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XRP was down by 0.13 per cent, Terra gained 6.12 per cent, Solana was up by 5.53 per cent, Avalanche gained 1.72 per cent, Cardano was up by 1.80 per cent, and Polkadot gained by 4.24 per cent.
Other alt coins such as Dogecoin and Shiba Inu were up by 3.05 per cent and 1.33 per cent respectively.
“ApeCoin has increased by nearly 24% as whales continuously accumulate after a four-day downtrend. While on the other side, The SandBox gains about 11% ahead of raising $400 million at a $4B valuation,” Patel said.
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