After reaching new all-time highs (ATH) above $68,500 in October last year, the price of Bitcoin, Ethereum and the rest of the market continues to suffer bleeding that has hit the entire market for almost a year.
And, a few months ago, the entire market suffered a new brutal fall that set off investor alarms.
Although cryptocurrencies had a complicated start to the week, yesterday they began to climb in a big way: Bitcoin is worth $22,967.71 and in the last 24 hours the price variation of the digital currency was 7.69 %. The market capitalization of Bitcoin is $438,496,246,939 and 19,105,750 BTC are in circulation.
The variation of the price of Bitcoin in the last year. Source: coinmarketcap.com.
On the Ripio cryptocurrency purchase and sale platform, the BTC today reaches the value of $7,884,443.25 in pesos for purchase and 7,316,034.28 for sale, with a variation of 0.15%.
The variation of the price of Bitcoin in pesos in the last year. Source: Rubble.
The price of the other cryptocurrencies:
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- Ethereum : $1,622.45 (10.96%)
- BNB : $267.31 (5.65%)
- Tether: $1.00 (0.00%)
- Solana: US$39.71 (8.31%)
- XRP : $0.35 (5.77%)
- Cardano : $0.50 (7.08%)
- Avalanche : $22.94 (8.82%)
- Polkadot : $7.60 (12.00%)
- Dogecoin: $0.07 (6.33%)
What can be expected for Bitcoin in the short term?
The cryptocurrency specialist Camilo Rodríguez explains to iProUP that, from the technical aspect, BTC is still in a macro lateralization.
“What we saw in the last few days was a temporary rise, but it will have a correction in the short term”, warns the expert and adds: “We are waiting for the FED to make new announcements. When this happens, as it normally happens, the price of Bitcoin will go down, just like the traditional markets.”
In addition, Rodríguez points out that “when we have daily candles above $24,100, only then could we evaluate a direct search above $26,150.”
Bitcoin woke up this Thursday with a drop close to 6%
Attention with what can happen with Bitcoin in the medium term
The CEO of the ArgenBTC exchange Gabriel Vago explains to iProUP that Bitcoin received a positive push from users who used it as a value refuge in the face of rising inflation in the United States,the positive reception of the changes in the ETH networkand the growth of the great global technology companies.
But the ArgenBTC specialist fears that these yields are just an oasis in the middle of the desert and expects that there will still be new falls that will take BTC to values lower than those that caused nervousness in the ecosystem last month.
“In the medium term, the trend is going to be downward and it could reach values in Bitcoin of around US$10,000 or US$13,000 per unit,” he warns.
Therefore, given the volatility that hits the ecosystem, it is key to get informed before investing in cryptocurrencies and integrate them into a balanced portfolio to be protected against sudden drops in their prices.