Bitcoin (BTC) closes the week with a slight recovery after what was a strong correction of almost 20% in recent days. As of press time, the price of BTC is $ 53,407, following a 3.7% daily rally.
After failing to break above $ 59K last weekend, the leading crypto currency had significant daily drops throughout the week that drove it to lows below $ 51,000. However, the support showed resistance and BTC is looking for a new rise.
Despite important announcements in the market in recent days – Tesla’s acceptance of BTC as a payment method or the new ETFs in Brazil – the crypto market did not have great impulses that affected its price upward.
Specialists, however, warned at the beginning of the pullbacks that BTC could fall towards 50K, and even presented it as a “healthy move”. However, there were some fears of a deeper decline, which were dispelled by the latest market rally.
As for altcoins, there were also encouraging movements at the close of the week. Ethereum (ETH), the benchmark altcoin, grew more than 2.5% in the last 24 hours and at the close of this note its price is USD 1,641.
Cardano (ADA) and XRP led the daily gains, with 11% and 9%, which took their price to $ 1.21 and $ 0.55, respectively. Binance Coin (BNB) and Polkadot (DOT) accompanied with jumps greater than 6% and climbed USD 248 and USD 31.45.
Finally, Litecoin (LTC) grew by 4% and reached USD 180 again, which meant the return to 10th place in the table of largest crypto currencies by capitalization.