Bitcoin Surges to $22K, While Altcoins Are Plummeting
- recently attained a sudden price surge, reaching above $22k.
- Major altcoins witnessed a price downfall, during the last 24 hours.
After falling around $18,000 in the previous week, the market dominator, Bitcoin (BTC) has now been going through a positive momentum in the global cryptocurrency market. During the past 24 hours, Bitcoin has attained significant price growth, registering more than $22,000. However, over the past few days, the price of BTC has been continuously going up and down.
CEO of Mudrex, Edul Patel recently stated:
If the price of BTC can close above its current level at $21,700, we could soon see it rally towards the $24,000 level this week. But if it fails to break this region, we might see it retest the $20,700 level.
At the time of writing, Bitcoin is trading around $21,759.54 with a 24-hour trading volume of $40,234,039,619. BTC has increased by nearly 0.83% in the last 24 hours, according to CMC (NS:).
Price Chart of BTC (Source: CMC)
Sudden Downfall of Altcoins
Currently, the global crypto market is showing a bearish signal. Apart from Bitcoin, the major altcoins started witnessing a sudden fall during the last 24 hours. The second leading coin, (ETH) is currently trading at around $1,730.26. ETH decreased by nearly 1.94% on the previous day.
Other leading altcoins are also suffering from a rapid plunge. As per CMC, (0.40%), (1.04%), (1.57%), (0.15%), (1.24%), (1.52%), Polygon (2.15%) and (0.38%) registered a downfall during the past 24 hours.
Additionally, major stablecoins such as (0.00%) and Binance USD (0.03%) also dropped down. However, registered an increase of 0.03% in the last 24 hours.
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