Bitcoin is back below the $40,000 level…NEXO is soaring for this reason!
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Answer Bitcoin is back below the $40,000 level…NEXO is soaring for this reason!
Bitcoin tried trading at the $40,000 level yesterday, but it quickly came to a halt as it is now trading below that level.
ApeCoin continued to hit another all-time high amid growing anticipation of the Otherside metaverse project, while Nexo soared in double digits after being listed on the world’s largest cryptocurrency exchange Binance.
Bitcoin stops at $40K:
The volatility in the cryptocurrency market has continued over the past 24 hours.
Yesterday, bitcoin experienced high volatility which started on April 25th when bitcoin challenged the $41,000 level but was violently rejected.
As a result, the price of the coin dropped over $3,000 in hours and the price of Bitcoin dropped below $38,000 for the first time since March 15.
Read:Rich Dad Poor Dad Author Explains Why He Bought Bitcoin
Bitcoin reacted somewhat positively to this drop in price and rebounded to just under $40K.
Then it went even further yesterday, and the price rose above the required level ($40 thousand).
But it was a short-lived adventure as Bitcoin fell below that level almost immediately.
As of press time, Bitcoin is worth $39,140, and its market capitalization is still around $750 billion.
ApeCoin and Nexo set records:
Altcoins have experienced similar price movements in the past few days, with many of them in the red on a weekly scale.
Ethereum was trading above $3000 last week but fell below $2900 a few days ago.
Binance Coin dropped below $400 and stood there from yesterday.
Amid the decline of most altcoins, ApeCoin managed to reach a new price high, while Nexo rose by double digits after announcing its listing on Binance.
The total market capitalization of cryptocurrencies has remained almost flat and currently stands near the $1.8 trillion level.
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