Crypto Tron TRX Rise 10%, Bitcoin Still Stuck in Same Range
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Answer Crypto Tron TRX Rise 10%, Bitcoin Still Stuck in Same Range
After another drop in the bitcoin price below $37,000, bitcoin entered an opposite trend and jumped to nearly $39,000.
Currently, most of the altcoin space looks extraordinarily quiet, with the cryptocurrency Tron TRX emerging among the very few gainers with the coin posting a 10% rise.
Bitcoin eyes at the level of 39 thousand dollars:
After last week’s unsuccessful attempt to cross the $40,000 level, Bitcoin rose twice above this level but his attempts were rejected, leaving the cryptocurrency well below this desired level.
In addition, the bears had almost complete control over the market and did not allow Bitcoin to start any upwards and ups.
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Quite the opposite, they pushed the price of the coin south, with the coin dropping below $38,000 on several occasions.
The last move came 24 hours ago as the bitcoin price dropped to a daily low of $37,500.
Bitcoin responded well to this drop in price and started to recover its value fairly quickly.
Within hours, it jumped over $1,000 and got close to $39,000.
It is hovering around that level as I write these lines, which means that its market capitalization has risen above $740 billion.
TRX cryptocurrency rises in double digits:
After the recent price swings, most altcoins have calmed down in the past couple of days.
The price of Ethereum fell to its lowest level in several weeks at around $2700, but the price has regained some of its value and is currently standing at $2850.
Binance Coin failed to recover the $400 level and is just below it.
The TRX cryptocurrency is the most significant winner of the altcoins with the largest market capitalization.
TRX price is up more than 10% on the 24-hour scale and is trading near $0.08.
Read:Red Indicators Dominate Crypto Market, Bitcoin Under $50K Again
Since most altcoins have failed to record any significant price movements in either direction, the total market capitalization also remains flat at around $1,750 trillion.
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