Bitcoin and Ethereum rally

In the space of 10 days, Bitcoin and Ethereum have depreciated by almost 20%, causing some uncertainty among investors. When these types of events occur, it is normal to worry, but it is clear that it is a break in growth to gain new momentum.

In the case of bitcoin, it has recovered in the last 24 hours. In the morning, it topped $ 57,500 for the first time since last Friday. It is clear that the recovery has occurred and the trend is likely to continue.

The Ethereum case was somewhat similar. The second largest cryptocurrency has also seen a major drop, but in the last 24 hours it has seen a rally of more than 7% during the same period. Currently, the Ethereum price is $ 4,446.77 and it is expected to continue to rise.

New heights are in sight

Since November 10, Bitcoin and Ethereum have started to experience a dip that has alerted investors.

The market correction is believed to have had a lot to do with institutional investment, but the recovery is now complete. And according to various market specialists, the new highs are quite close. We are about to enter the last month of the year and the possibilities for growth are more present than ever.

Before China banned the use of cryptocurrencies, it was estimated that bitcoin could exceed $ 150,000 before the end of the year. After that, expectations changed, and now the new high to hit is around $ 80,000 to $ 90,000. It sounds like a lot, but we’ve already seen bitcoin grow dramatically for fairly short periods of time and the performance of the cryptocurrency at this point last year was pretty good.

If all goes according to plan and no affected country imposes restrictive regulations on cryptocurrencies before the end of the year, a new record could be seen before January 1. This is possible because, although India recently announced that it will regulate cryptocurrencies, it could take some time. In the case of the United States, it has been quite friendly with cryptocurrencies and the possibilities of regulation are not close either. Therefore, the new highs are almost a given, and they are even more so after this correction.

Recovery is general

Although Bitcoin and Ethereum are constantly being talked about as reference cryptocurrencies, the rise in the price of digital assets has been widespread. The top 5 cryptocurrencies on the market rallied and performed quite well.

A good example is Dogecoin, Elon Musk’s favorite cryptocurrency has risen 7.31% in the last 24 hours. The performance of this cryptocurrency, although it fell considerably after almost reaching the dollar per unit, began to improve more and more. This cryptocurrency could also experience new highs very soon.

And in terms of overall performance, Ethereum continues to lead the way. The data reveals that the cryptocurrency has a total return of 10% over the past weekend, far more than any other cryptocurrency. In fact, some scholars claim that now is the right time to invest money in Ethereum. This has to do with the theory that bitcoin will eventually disappear from the top spot. Of course, it will take some time for this to happen, but it is also natural. If we look at the investment volume and not the price, Ethereum has an advantage, which shows the great interest of investors, in addition to that its price is not as high as that of bitcoin and that there is a possibility that it will be produced long. term. the profit is a good investment bet.

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