Crypto Currency News

Bitcoin price shows signs of recovery and rises 6%

Bitcoin closes the week with a brief recovery that momentarily stops the massive drop experienced by the entire crypto market during the last week. The leading cryptocurrency grew by 6% in the last few hours and once again surpassed USD 30K. At press time, the price of BTC is $30,800.

The crypto ecosystem will not rest this weekend as all eyes will be on the performance of BTC. After multimillion-dollar liquidations in recent days, analysts now expect a sustained recovery in the medium term.

Following the recent rally above $30K, BTC price may continue to the $32,000 resistance, which will be an extremely difficult barrier to overcome and defend. If it manages to do so, specialists believe that a confidence recovery could quickly lead to 33K and subsequently to $35K.

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The big news of the day in terms of global crypto adoption came from the Middle East. Emirates Airline, the national flag carrier of the United Arab Emirates – which is also the largest in the world – announced that it will start accepting BTC as a means of payment for its customers.

Altcoins

The rest of the crypto market also saw green numbers again on Friday. Benchmark altcoin Ether (ETH) surged 8% and climbed back above $2,000. At the close of this note, the price of ETH is USD 2,123.

XRP and Solana (SOL) rallied 14% to $0.44 and $54 respectively, while Cardano (ADA) rose 16% to $0.57. Litecoin (LTC) has rallied by 15% and is priced at $72.

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