Bitcoin’s Price Surges Over $22,000, Keeping Crypto Market Cap At $1 Trillion

Bitcoin has taken steps over the course of the previous twenty-four hours to recover from its recent drop in value. In a portion of the quality that it had been depleted of previously.

It is currently trading at a price of $22,300 due to the fact that it has been unsuccessful. On a daily scale, the altcoins are basically static, with EOS wiping out all of its gains from the day before.

This is the case for most of the other cryptocurrencies as well. Due to the fact that there was only a somewhat high volume of business conducted throughout the course of the weekend.

A Constant $22,000 for Bitcoin

The price of bitcoin was able to find some level of stability at around $23,000. This was mostly due to the fact that the weekend fell on a Friday. At the start of the following week of work, the value of the asset was coming closer and closer to 24,000.

In point of fact, the price of a bitcoin did reach that precise level on Wednesday. The day in question was the 13th. Yet, this only lasted for a short while in totality. The subsequent attempts to climb back up to that point were fruitless.

After spending the better part of the week oscillating between $23,000 and $24,000, we finally decided to go with the latter. On Friday, the value of the cryptocurrency was able to successfully break out of that area for the first time in a week.

This is the point at which the landscape started changing as a direct result of the Silvegate controversy. Within a period of a few minutes, the price of a bitcoin fell by more than $1,000, bringing the total loss to over $2,000.

In the previous 18 days, it dropped to its all-time low, which was a little below $22,000 at the time. Despite this, there is an ongoing dispute among a subset of cryptocurrency specialists as to what, if anything, is to blame for this fall.

In spite of this, Bitcoin was able to regain some of its value and get back on its feet. It reached its all-time high of $22,600 before the end of the weekend’s trading session.

It rapidly deteriorated, and it is currently trading at the same level of $22,300 as before. Its overall market capitalization has mostly maintained its previous levels.

In light of recent trade activity, it is currently somewhere around 430 billion dollars. Its dominance over other cryptocurrencies is currently very close to reaching 42 percent of the total market share.

It represents a percentage of the overall market share. Despite the fact that other coins experienced a period of volatility on the same day that Bitcoin did on Friday. A reddish color developed on most of them.

Those of the Alternative Persuasion Remain Calm

The preceding twenty-four hours have already been marked by a remarkably low-key level of activity. There is not much of a decline in the value of Cardano, Polygon, Polkadot, Ripple, Ethereum,  Dogecoin, or OKB on a daily basis.

The Shiba Inu has also collapsed. In comparison to other cryptocurrencies, EOS had the greatest result the previous day. It appears that practically every single one of those gains has been erased today. It is now being traded at $1.2.

The current price of EOS on the market is $1.2. It would appear that other cryptocurrencies, including Stellar, Avalanche, and Toncoin, have also seen additional losses.

On the other hand, QNT’s value has increased by 3% recently and is trading close to $130 at the moment. Despite the fact that the remaining few days of the week were hard for the cryptocurrency industry as a whole.

The overall value of all cryptocurrencies traded on the market has essentially not changed at all during the past few days. It has achieved the much-sought-after benchmark of one trillion dollars in value.