Bitcoin Recovers $19,000, Terra Classic (LUNC) Jumps 7% (Market Watch)

After yesterday’s sudden surge in volatility that sent bitcoin down over $1,500 in hours, the asset bounced back to jump above $19,000.

Most altcoins are also somewhat green today, with Terra Classic jumping nearly 7% daily.

Bitcoin Returns to Over $19,000

The primary cryptocurrency was fairly stable over the weekend at $19,000, which came after the price dropped last week from $20,000 to a three-month low of $18,100 as the US Federal Reserve announced the latest rate hike.

However, Bitcoin does not tend to stay in one place for long and dropped to $18,600 on Monday before hitting over $20,000 on Tuesday. The latter was the highest for 12 days.

With reports emerging that many investors had placed sell orders at the psychological $20,000 limit, the asset somewhat predictably fell around $1,500 and found itself struggling below $19,000 an hour later.

However, it reacted very positively at this point and rebounded above $19,000, reaching an intraday high of $19,800. So far, it has fallen a few hundred dollars, but it has a market capitalization of $370 billion, and its dominance in crypto has reached 40%.

BTCUSD. Source: TradingView


Altcoins suffered as hard as BTC yesterday, but the landscape looks completely different today.

Ethereum, which has underperformed since the merger two weeks ago, fell to around $1,200 at one point yesterday. A similar rally in bitcoin on a daily scale has pushed ETH above $1,300.

Binance Coin, Ripple, and Solana are adding up 4% on the day and are trading at $281, $0.44 and $33, respectively.

Although more modest, Cardano, Dogecoin, Polkadot, Shiba Inu, Troon, Matic, and Avalanche are also green today.

The LUNC rose 7% in one day as the battle between South Korean prosecutors and Do Kwon raged.

The total cryptocurrency market cap has added nearly $20 billion since yesterday’s crash, well above $900 billion.

An overview of the cryptocurrency market.  Source: Quantify Crypto
An overview of the cryptocurrency market. Source: Quantify Crypto

After Bitcoin recovers $19K, Terra Classic (LUNC) jumps 7% (Market Watch) for the first time on CryptoPotato.

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