Bitcoin Takes A Dip To $56,000
-Bitcoin Journey Above $60,000 again suffered a setback when the coin dipped on Sunday morning
-The Flagship crypto made four attempts to go past $59,400 on Saturday but fell short.
-BTC is currently trading at $57,193 as altcoins follow its movement
Bitcoin’s road to its all-time high above $60,000 has suffered a setback as the cryptocurrency dipped on Sunday.
After four attempts to reach last Saturday’s peak of $61,701, the flagship crypto dropped to $56,000.
The latest drop has unlocked a weakness that many believe exposes the coin to bearish tendencies.
The latest drop doesn’t come as good news to many altcoins investors because the coins mirror the movement of BTC.
Following BTC’s drop, coins such as ETH, LTC, and BNB also dipped on Sunday.
An exception to this movement was XRP. Despite Ripple’s court drama, the coin made waves with its upward movement.
XRP was in a lot of trouble when news of an SEC filing alleging that the organization was an unregistered security first car to light. It has however been on recovery due to support from thousands of investors.
Bitcoin’s movement in 2021 has been almost as impressive as that of 2020. The coin has grown from $31,570 to a peak of over $60,000 within the first 3 months.
Read also: CBN Governor says Nigerians are allowed to use BTC and other cryptocurrencies
At the time of this article, BTC is trading at $57,193. With a market cap of $1.07 trillion.
The trading value of altcoins can be seen below
ETH: $1785
BNB: $263
LTC: $196
ADA: $1.19
XRP: $0.504830
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