Bitcoin surged to around $20,900 on October 26 and is currently trading around $20,500. Will we see a recovery?
Data from CoinMarketCap showed that the cryptocurrency market turned green last week, ending a series of sideways trading that lasted nearly 3 weeks.
Ethereum (ETH), the second-largest coin, made a stronger rally. The coin skyrocketed nearly 5% in 24 hours and over 21% in 7 days, rising from $1,350 to $1,583 – ETH’s highest price since Sept. 15, the Merge date. ETH’s inflation rate has decreased sharply post-Merge.
This strengthens people’s belief in the upward momentum of the coin in the future.
Other coins are also increasing. Top 20 altcoins have reportedly gained 5% to 18% in the last 24 hours. The most impressive performance went to Dogecoin (DOGE) with a 18% increase.
The Bank is Spending
There is no substantial news to support the cryptocurrency market’s robust recovery. However, the reason for Dogecoin’s…
