The bullish movement in the whole market started again.
Cryptocurrencies left behind a very difficult week and started the new week with nice bullish moves. After the bull market two weeks ago, all cryptocurrencies, including Bitcoin (BTC), were slaughtered. However, when we look at today’s prices, we see that cryptocurrencies have started to increase with the effect of the power they have gathered at the weekend.
Cryptos on the Rise
When we look at the top ten biggest cryptocurrencies in terms of market volume, we see that Ethereum has performed the best in the last 24 hours. Ethereum (ETH), the second largest cryptocurrency in terms of market volume, increased by over 8 percent in 24 hours to $ 584.
ETH fell sharply from $ 623 to $ 481 during the last week’s declines. However, at this point, analysts and experienced investors stated that there was no need for panic in their statements not only for Ethereum but for all cryptocurrencies that experienced a decline, and this was a normal withdrawal.
As a matter of fact, it seems like that and crypto money prices have started to increase again. In addition to Ethereum, XRP is also among the most followed and well-performing coins. Ripple (XRP), which took its third place from Tether (USDT) with its recent performance, may have signaled that high levels can be seen again with its performance of over 3 percent in the last 24 hours.
In fact, Ripple was one of the most talked about and criticized altcoins of the last 3 years. Because XRP went down after breaking a record with $ 3.84 on January 4, 2018, and could not show an upward trend by showing the desired performance even in the smaller rally periods. XRP, which was traded at $ 0.63 at the time of writing, rose as high as $ 0.72 last week before the decline began. Although it fell to the 0.45 band with the decline last week, XRP is still in good shape as it was traded in the $ 0.28 band shortly before that.
Some analysts think Ripple is preparing to write an epic, although some investors still feel that they do not trust Ripple and that XRP is losing a lot. For example, Credible Crypto, one of the popular analysts of the market, stated that the XRP price could rise above $ 3.30 in a short time.
In addition to all these good rises, of course, we see that Bitcoin, which is the largest crypto currency in the market and determines the direction of price movements in general, is also on the rise. The leading cryptocurrency fell below even $ 17,000 during the dips and saw $ 16,194.
However, after this correction, BTC, which was on the rise with firm steps, is trading at $ 18,561 at the time of the publication. After the correction, Bitcoin, which saw an increase of over $ 2,000, seems less than $ 1,500 to reach a record level.
Many people think that BTC’s uptrend after this correction proves that the bull market continues. Bitcoin is now expected to set the $ 20,000 record before another bearish move. Still, analysts warn investors to be cautious and to manage their own risk.