Bitcoin Drops Below $21,000, XTZ Up 8%
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Answer Bitcoin Drops Below $21,000, XTZ Up 8%
After a few days of exploring higher ground, Bitcoin reversed course yesterday and fell towards the $20,000 level.
Currently, most altcoins are following Bitcoin and are in the red today while Tezos and Apecoin challenge the negative market sentiment.
Bitcoin trying to maintain the $20,000 level:
After the mid-month carnage, which saw bitcoin plummet more than $12,000 to an 18-month low of $17,500 last Sunday, last week was more positive for the asset as it recovered more than $4,000.
Then came the weekend in which Bitcoin remained relatively calm and held steady at around $21,000.
The bitcoin price then rose to a 10-day high of just over $21,800 but was stopped there.
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In the following hours, the cryptocurrency gradually started losing value and eventually found itself dropping below $21,000.
The daily drop came in at around $20,500, but the community’s fears of a dip below the $20,000 mark did not materialize.
Quite the opposite, Bitcoin has bounced back and is currently standing near $21,000.
The XTZ cryptocurrency challenges the general market trend:
Most altcoins followed the same path as bitcoin and most of them headed south with mixed declines on a daily basis.
Ethereum also hit a multi-day high over the weekend but failed to increase further.
In the past day, Ethereum is down just over 1.5% but is still trading above $1,200.
The price of the digital currency BNB has fallen by a similar rate and is currently approaching $240.
While Tezos and ApeCoin are among the few assets that are in the green.
The XTZ cryptocurrency is up 8% in one day and is currently trading at $1.64, while APE is up 11%. The latter rose after the recent hype that accompanied BAYC’s inclusion in a rap video by Eminem and Snoop Dogg.
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