Bitcoin (BTC) was able to recover the $19,000 level after surging by around 4% in the last 24 hours. The virtual currency has also allowed other cryptos to move higher. Altcoins are recovering from recent days and are coming back to pre-correction levels. This shows there are still many investors ready to purchase Bitcoin at these levels in the cryptocurrency market.
Bitcoin Recovers the $19,000 Level
The last month has been very moved for Bitcoin. Just a month ago, Bitcoin was traded below $16,000 and the virtual currency was far from reaching its all-time high. In the last weeks, Bitcoin was traded between $16,000 and $19,900. However, most of the time it was traded in the range from $17,600 to $19,400.
This shows how stable Bitcoin has been in recent weeks. Despite the bullish sentiment in the market, we see Bitcoin is consolidating in the abovementioned range. This is something positive that could allow Bitcoin to move higher in the coming weeks and months.
Other virtual currencies have also recovered in the last few hours. Ethereum (ETH) and Litecoin (LTC) are registering gains between 3% and 5% in the last 24 hours.
Only XRP remains in negative territory in the last 24 hours. This is related to the Spark token airdrop. A large number of investors purchased XRP to get rewarded with FLR tokens. The Flare Network will be airdropping FLR tokens to users that held XRP at the time of the snapshot.
Now, cryptocurrency users are waiting for Bitcoin and altcoins to continue moving higher. Bitcoin is just ready to move towards $20,000 while altcoins are still far from their all-time highs. Ethereum’s record was hit in January 2018 when the digital currency was traded at around $1,400.
XRP, instead, reached its all-time high in early January 2018 at $3.84 per coin. Litecoin experienced a similar thing. The 5th largest virtual currency reached its record price in December 2017 alongside Bitcoin. LTC was traded at that time at $375 per coin.
Nowadays, ETH, XRP and LTC are being traded at $578, $0,5140 and $78,87, respectively. This shows these virtual currencies have still place to grow and move higher in the next months if Bitcoin continues with its bull run. Some analysts believe that BTC could surpass $20,000 and get closer to the$30,000 region.
