No Crash for Bitcoin, Bears Defeated while Crypto Market making Recovery

Published by

Bitcoin bears are yet again defeated as the majority of the market is in the green while the crash being detected and patched before even it make it to the release. While Bitcoin has crossed $6,400 level, XRP, EOS, TRX, and ETN are making substantial gains among the altcoins with total market cap jumping $200 billion level.

Bitcoin crash? Jumps $6,400 mark

After a sharp decline to $6,100 mark yesterday, Bitcoin took an equally sharp hike and reached over $6,500 level. At the time of writing, Bitcoin has been trading at $6,430 while being up by about 2 percent. As you can see in the chart below, today’s price range has been between $6,371 to $6,460.

Bitcoin 1-day price, Source: TradingView

The daily trading volume of world’s leading cryptocurrency has also taken a surge at $4.2 billion with a market cap of $111 billion. As for the BTC dominance, it has taken a slide and hit 54.7 percent.

On another front, recently, a flaw has been detected that was successfully patched by Bitcoin core developers who released a new software version. The flaw could have been easily exploited and led to a disaster but the developers reacted quickly and the bug didn’t even make it to the production release.

As stated by Andreas M. Antonopoulos, the track record of the most popular cryptocurrency is simply the best.


Altcoins surging, total market cap reaching $203 billion

As it usually happens, altcoins also hiked in tandem with Bitcoin as a majority of the crypto market is in green. Out of the top cryptocurrencies,

  • XRP is the winner with $17.04% surge at $0.3732
  • EOS and Tron (TRX) are up by over 6%
  • Cardano (ADA) by 5% while Litecoin (LTC), Monero (XLM) and NEO are surging in the 4% range

The winner of today’s gainers is Electroneum (ETN) with 52 percent gains at $0.00799 with just about $1 million daily trading volume.

Verge (XVG), Basic Attention Token (BAT), and Nano are also gaining significantly in over 9 percentage.

BitcoinDark (BTCD) is suffering from the highest losses of more than 14 percent. Aurora, Dentacoin, and NEM are also among the red.

These gains in the altcoins have the market cap of the entire crypto market cross $200 billion. For the past few days, there has been lots of ups and downs but yet again it has reached $203.8 billion.

7-days Total Market Cap chart, Source: Coinmarketcap

At the moment, Bitcoin and altcoins are maintaining a good price momentum with a lot of green in the market. But it is yet to seen if these gains will be extended or as experts are saying are we still in the bear market.

Anjali Tyagi

Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.

Published by

Recent Posts

  • Price Analysis

SOL Price Analysis: A Bullish Breakout From The $260 Mark Should Initiate A Significant Rally In SOL Coin

The technical chart of SOL/USD shows a steady uptrend for this coin. The price currently…

December 3, 2021
  • Bitcoin News

Fidelity Canada Launches Spot Bitcoin ETF and Mutual Funds, Begins Trading

Fidelity Canada has succeeded in launching its Bitcoin exchange-traded fund (ETF) as well as the…

December 3, 2021
  • Uncategorized

Matic Price Analysis: A V-shaped Recovery In Polygon Is Ready To Challenge The Previous Swing High For A Bullish Breakout

The technical chart of MATIC/USD shows a steady uptrend for this coin. The price currently…

December 2, 2021
  • Regulation News

Breaking: Indian Government Confirms Crypto Regulation Amid Ban Speculations

IndianDespite numerous claims from various sources that India might outrightly ban crypto, the Indian Government…

December 2, 2021
  • Price Analysis

Cardano Price Analysis: ADA Coin Is Up By 10% From An Important Support; Has The Recovery Phase Started?

The ADA coin has been in a bearish mood for more than two months now.…

December 2, 2021
  • Price Analysis

Helium Price Analysis: This Bullish Pattern Can End The Correction Phase In HNT Coin

The technical chart of HNT/USD maintains an overall bullish trend in the coin. The price…

December 2, 2021