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Crypto Assets Rise After Weekend Dive, Bitcoin Above $51K

Crypto Assets Rise

Created by TradeOr

3rd Party Analysis 07 Dec 2021

Key Takeaways:

  • Leading cryptocurrencies push higher after falling sharply over the weekend
  • Bitcoin price is climbing back up above $51,000 following a 20% drop on Saturday

What’s Today’s News in Crypto?

Cryptocurrencies are staging a comeback after falling sharply over the weekend. Bitcoin, for example, is aiming to pare its losses as it climbed back up above the $51,000-mark. While volatility remains high, major tokens have been significantly lifted from their weekend lows.

The original cryptocurrency, however, is still lagging behind its runner-up, the Ethereum token, in terms of price recovery. This said, Ether is already done with recouping its weekend losses. In other words, the second-biggest coin in the market is now above its high point prior to the weekend dive.

Early on Tuesday, Ether is trading near $4,340 with a session high of $4,380 per coin. With this in mind, over the past two days, the Ethereum token has gained about 12% to current market price. Moreover, from its weekend low of $3,500, Ether is up a staggering 25%.

What’s the Price of Bitcoin?

Bitcoin, the biggest coin with a market value of $1 trillion, is currently trading at $51,000 per token. Bitcoin’s price has been relatively slower to recover. In more detail, over the past couple of days, the orange coin has advanced roughly 9%.

Since the steep weekend fall, however, the flagship cryptocurrency is higher by 20% to its current market price. Still, bitcoin has some way to go to pare its recent losses. In numbers, buyers must bring the price back above $54,000 in order for bitcoin to erase its decline from earlier this month.

It has to be noted that cryptocurrency traders are largely unfazed from the price drop. As a matter of fact, many of them consider this a buying opportunity. In practice, they can get bitcoin or ether on discount, depending on the magnitude of the drop.

How to Buy Bitcoin?

In that context, the price of bitcoin is about 26% away from its record high of $69,000 per token. On this note, market participants could take advantage of the decline and buy the dip as they believe in the long-term future of crypto.

In conclusion, the outlook for crypto remains strong. Furthermore, many analysts say bitcoin and the broad crypto market have become too big to ignore. Now, governments, institutional investors, asset managers and Wall Street pros are hearing daily about the progress of crypto.

To this end, be sure to check our bitcoin buying guide. Or you can also check our cryptocurrency list with the hottest tokens in the market right now.