Bitcoin has slowly started to recover since the mid-week and today it reached nearly $40,000 within a few hours. Bitcoin has been trying hard to rise for the past two months and now the price chart shows the uptrend momentum.
Although, the start of the past week for bitcoin seems a depressing start. But from the mid-week BTC has taken five days to surge from hardly $30,000 to $34,000. Some analysts predicted the Bitcoin price actions and stated that BTC would reach $36K by the end of the week.
After being trapped in the depressing slope for a few months, BTC has recovered following the positive comments from Jack Dorsey, Elon Musk at the “B Word” conference. Moreover, Tesla CEO Elon Musk stated that he may resume BTC payment again for purchasing cars.
At the time of writing, the trading price of BTC was $38,069 which has surged more than 10%. Consequently, Bitcoin is listed as the top gainer for the past 24 hours among the top 30 crypto-assets, according to Coinmarketcap.
Significantly, this quick surge of Bitcoin has pulled out some analysts to talk about BTC’s bullish signal and its price chart. One popular crypto expert, Lark Davis has tweeted saying that BTC’s price has again cracked above its 50-day moving average.
Oooohhhh….. #bitcoin just reclaimed the 50 day moving average! Nice! pic.twitter.com/xpS3kiUV16
— Lark Davis (@TheCryptoLark) July 26, 2021
Along with Bitcoin, Polkadot and Chainlink also joined the list of top gainers for the past 24-hours. Each surged over 10%, where Polkadot soared to nearly 15% and Chainlink raised to 13%.
Elon Musk Activated Dogecoin
After Elon Musk’s tweet on July 25, a meme saying that “Dogecoin is money”, the meme-currency saw a little surge. Despite his tweet, Dogecoin was up nearly 9% which is a single-digit gain for the day.
And finally pic.twitter.com/TcgwMSyjAy
— Elon Musk (@elonmusk) July 25, 2021
According to Coinmarketcap, Dogecoin still holds its place within the top 10 by market rank. At the time of writing, DOGE has soared to 14% for the past 24-hours.
On the whole, ETH is one of the leading cryptocurrencies in the market, still lacking in growth and struggles to display an uptrend. Ethereum is just posting a gain of 8% for the last 24-hours when other altcoins are making their huge move. As ETH follows the same suit of Bitcoin, it is expected to rise more in upcoming days.
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