SnapBots News Review — Bitcoin Bounces Back Up, hits $38,000
After a dramatic drop last week, Bitcoin has slightly recovered and has turned bullish. Earlier this morning (June 1), Bitcoin was trading around the threshold of nearly $ 38,000. A series of other cryptocurrencies also increased sharply, and the total market capitalization increased.
CoinDesk data on the morning of June 1 showed that the price of Bitcoin virtual currency was trading at $ 37,671.10, an increase of 6.46% compared to yesterday. In the past 24 hours, the Bitcoin price peaked at $37,752, trading lowest at $34,221.85.
According to Coinmarketcap statistics, Bitcoin trading volume in the past 24 hours is nearly 39.3 billion USD, the capitalization of the Bitcoin market is recorded at more than 704 billion USD.
The strong momentum of Bitcoin led many other cryptocurrencies to recover at a spectacular rate.
Specifically, Ethereum increased 15.74% to a price of $2,728; Bitcoin Cash is up 9.26%, priced at $717; Cardano rose 13.73% to $1.78; Litecoin increased 14.12%, to a price of 192 USD; Monero is up 7.04 percent, priced at $274; Stellar rose 9.92%, to a price of $0.411; Dogecoin is up 9.05%, at $0.327; Polkadot rose 14.03% to $23.24…
Before the violent price volatility of Bitcoin, many investors expressed panic and decided to sell. Meanwhile, many experienced investors see this as an excellent opportunity to capitalize on catching the bottom when seeing Bitcoin’s price drop deeply. Many significant investment funds are buying Bitcoin in large quantities.
According to Bloomberg, despite the Chinese authorities continuously taking measures to tighten the crypto market, many Chinese investors still pour money into Bitcoin or Ether.
In recent days, the Bitcoin price has shown signs of recovery after a series of relentless declines. Through this, it can be seen that many investors are still very optimistic about the future of virtual money. There is a forecast that shortly, the price of Bitcoin may reach the threshold of 100,000 USD.
Source: Coindesk
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