Half of the top 10 cryptocurrency showed bullish movement during the past 24 hours. Could this be a sign that the crypto market is recovering? Is the market cycle past its FEAR stage? What is the top gainer and top loser?
Cryptocurrency ‘Good’ News
Cryptocurrency has been making the headlines a lot with a number of big financial players both supporting and going against it.
With ARK announcing that they plan to offer Bitcoin ETFs, according to CNBC, it can be seen that the conventional banking world is now slowly accepting Bitcoin and other cryptocurrencies as a potential investment.
Another huge move in support of cryptocurrency, or $BTC in general, is El Salvador’s decision to accept Bitcoin as another legal currency, as per Forbes. With a country itself accepting Bitcoin, this tips the weighing scale a little bit.
However, there still remain countries that still make owning or trading cryptocurrency very difficult.
Cryptocurrency ‘Bad’ News
One example of this is South Korea’s move to make it hard for smaller crypto exchanges to continue. Due to the difficult bank requirements and the difficulty of smaller crypto exchanges to get the needed documents, a number of them are reportedly considering suing the government over the crypto law deeming it allegedly “unconstitutional.”
Another move against Bitcoin or cryptocurrency in general is the UK’s decision to not allow Binance, one of the top crypto exchange platforms, to operate in their jurisdiction.
The move was to completely ban Binance from operating in the UK. Although there might be other cryptocurrency platforms allowed in the UK, crypto exchanges like Binance makes accessing cryptocurrency much easier for the average user.
Bitcoin Market Cycle
For those that are very new to the volatility of Bitcoin, it is important to understand the cryptocurrency’s market cycle. An article by CryptocurrencyFacts explained how the Bitcoin market cycle works.
Basically, this is where crypto whales and investors buy low and once the price skyrockets, they decide to sell. After they sell, others become weary and start selling as well, bringing the prices down. Once the prices are down, this is where crypto whales once again purchase the cryptocurrency.
Here are the top 10 cryptocurrencies ranked from biggest gains to biggest losses over the last 24 hours:
1. $XRP
Price: $0.69
24 hour percentage change: +4.0%
7 day percentage change: +6.0%
30 day percentage change: -31.1%
2. $ETH
Price: $2,159
24 hour percentage change: +1.1%
7 day percentage change: +7.5%
30 day percentage change: -11.1%
3. $BNB
Price: $300.01
24 hour percentage change: +0.9%
7 day percentage change: +3.2%
30 day percentage change: -8.8%
4. $BTC
Price: $35,238
24 hour percentage change: +0.8%
7 day percentage change: +3.5%
30 day percentage change: -1.6%
5. $ADA
Price: $1.35
24 hour percentage change: +0.5%
7 day percentage change: +5.5%
30 day percentage change: -16.8%
Read Also: Top 10 Crypto ‘No Longer that Bearish’ as Coins Show Less Than -23% Change Over Last 30 Days
6. $USDT
Price: $1.00
24 hour percentage change: -0.1%
7 day percentage change: -0.2%
30 day percentage change: -0.1%
7. $USDC
Price: $1.0
24 hour percentage change: -0.1%
7 day percentage change: -0.1%
30 day percentage change: -0.0%
8. $HEX
Price: $0.08
24 hour percentage change: -0.3%
7 day percentage change: +0.7%
30 day percentage change: +75.3%
9. $DOGE
Price: $0.25
24 hour percentage change: -1.6%
7 day percentage change: +15.9%
30 day percentage change: -15.5%
10. $DOT
Price: $15.93
24 hour percentage change: -1.9%
7 day percentage change: -2.2%
30 day percentage change: -22.3%
Data presented above came from WhaleBots Alert on Telegram.
Related Article: Top 10 Cryptocurrencies Bullish in the Past 24 Hours Except 2 | $HEX and $USDC Down?
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Written by Urian B.
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