The price of Bitcoin has reached $59,000 yesterday as it continues to recover from the last loss, while most altcoins have been stagnant. The AVAX price has charted new heights (again), and it is close to overtaking Dogecoin in terms of market capitalization.
In the previous week, most altcoins plunged in value and tried to rebound yesterday. In contrast, Ethereum fell below $4,000 for the first time in over a month shortly after reaching its latest high of nearly $4,900, but the cryptocurrency is now trading above $4,300. Moreover, Most large-cap alts have stalled on a 24-hour basis, Binance Coin, Dogecoin ,Solana, Polkadot , Cardano and Ripple are in the red, while Terra is around 0.3% up.
Shiba Inu has lost -6% of value with a current price at $0.000045 according to CoinMarketCap. However, both Avalanche and CryptoCom’s have gained the most.
The prices of AVAX have reached consecutive all-time highs and are arguably the best performers in the past several days and currently it is trading at $138. In addition, by market capitalization, AVAX is currently inches away from surpassing Dogecoin and becoming the 10th-largest cryptocurrency.
There were several consecutive days when Bitcoin’s value declined. A drop below $56,000 was the culmination of a push south by the bears since the price reached its latest ATH of $69,000. Read more [The Cryptocurrency Bitcoin Reaches a New Record Value]. That dropped to its lowest point in over a month.
The cryptocurrency reacted well to the dip. However, yesterday, almost $3,000 was added to the cryptocurrency. Last week, it regained $58,000 but kept climbing and neared $60,000 hours ago.
Bitcoin has now retraced a little and is currently trading at $59,000, Its market cap has once again exceeded $1.1 trillion, but the dominance of the altcoins has decreased to just over 42%.