Bitcoin continued to struggle to maintain the $30,000 level and declined below it a few hours ago. Most of the altcoins are in the red a bit today. XTZ is one of the few exceptions after a major announcement from the company behind the largest stablecoin – Tether.
Will bitcoin stay above $30K?
The week began with a wild ride, which first took bitcoin below a multi-day high of $32,000 below $30,000. The bears reminded of their presence hours later and pushed BTC south again to $29,200.
However, the volatility was not over as the asset surged above $31,000 once again. Still, it failed there and fell back to the familiar base of about $30,000.
Over the past 24 hours, bitcoin has also dropped below that level to $29,500 (on Bitstamp). Now, although the cryptocurrency is at $30,000, its market cap remains below $570 billion, while dominance is at 46.4%.
Notable 24-Hour BTC News
Prominent BTC proponent – Jack Dorsey – and renowned hip hop artist – Jay-Z – have partnered once again to launch a bitcoin educational program for residents of Marcy House in Brooklyn, New York.
Despite the price struggle, bitcoin’s network is becoming more and more robust. This is evident from the rising hash rate, which recorded a new all-time high.
The host of CNBC’s Mad Money – Jim Cramer – gave his reasons why he believes BTC and ETH are the right investment bets.
XTZ sees monthly high
The outlook is negative in most altcoins, with Cardano leading the race (-4% on the day). ADA was the most significant gainer from large-cap alts recently, but has declined to $0.62 so far.
Ethereum declined below $1,800 after a minor retracement. Dogecoin, TRX, Avalanche and Shiba Inu are also slightly red, while BNB, XRP and DOT are up marginally.
Solana has made the biggest jump out of the top 10 cryptocurrencies and reclaimed $40.
Following the news of Tether launching on Tezos, XTZ rose from $2 to around $2.4, becoming a monthly high. The asset has now retreated a bit, but it is still in the green on a daily basis.
The crypto market cap remains sluggish and is above $1.2 trillion.
PrimeXBT Special Offer: Use this link to register and enter code POTATO50 to get up to $7,000 on your deposit.
Disclaimer: The information found on Cryptopotato is that of the cited authors. It does not represent the opinion of Cryptopotato whether to buy, sell or hold any investment. You are advised to do your own research before taking any investment decision. Use the information provided at your own risk. See disclaimer for more details.
Cryptocurrency charts by TradingView.
