Crypto Buzz: Bitcoin Retreats From Dip, Ethereum Takes A Leap

Bitcoin after dropping down to $37,000 rallied back up to $41,000, creating a new high record.

Ethereum went up to $1,217 from $1,147 after seeing many ups and downs.

The cryptocurrency market was really bullish on Friday.

Bitcoin like any other day had a great start with the opening of the market. Previously after hitting a new high of $40,000, it dropped down to being traded around $37,000 at closing. On Friday, Bitcoin saw many drops and rises and even broke another high record crossing $41,000.

The start of the market was not very good for Ethereum. Ethereum started the market at $1,147.57 but then saw drops bringing it as low as $1,063.20. Ethereum saw many rallies during is trading tenure of Friday and at one point went as high as $12.99.52. However, at the closing of the market went up to be traded at $1,217 hence ending the day with a surge.

However, after 12 am on 9th January, 2021, Ethereum saw another rise in value of about 1.15%. The Ethereum went up to being traded for as high as $1,231. Market analysts said that Ethereum would need the financial interest of big investors to drive its value above this point.

With Ethereum currently having its total assets in the market roughly capped at around $145.1 billion. Ethereum previously held its all-time high, total market asset valued at $145.7 billion.

Litecoin is also looking forward to following in the footsteps of Ethereum by signing projects with third parties. Litecoin enjoys the status of being one of two stablecoins.

On Friday Litecoin had a surge of about 1.6 percent and ended the day with its final price at $172.45 apiece. A day before a surge of 0.18 percent was observed in the value of Litecoin. Litecoin went as high as $181.55 breaking the milestone of $180 per asset then dropping back down.

Exchanges suggest that Litecoin would have to avoid dropping below $168.07 to break through the price point of $185.94.

Ripple Labs are facing some reputational issues since the US Securities and Exchange Commission filed a complaint against them. However, Garlinghouse claimed that Ripple’s investors have faith in Ripple Labs. His statement can be accepted considering the Ripple investors have not diverted from it. Although new investors are reluctant to join in the Ripple market, but the current rallies in value XRP prove it.

XRP began the day with $0.3211 and during the trade day went as high as $0.3818. However, by the end of day, it was being traded back at $0.32.

From the current market conditions, one may not be able to surely saw how much the prices will rise. But it is certain that some profits will be made with investment in the cryptocurrencies. As can be seen from the last few weeks, all crypto coins are in the rising above their previous prices.

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