Currently, the price of bitcoin could not remain floating above 60,000 USD and corrected accordingly. BTC, as of now, is being traded at the price range of $58,000 to 58,500. Overall, users can trade BTC in USD over 57,000. The sudden decrease in the value of bitcoin has made sure that altcoins begin rallying and there is a sudden surge in their value. In addition to the downfall of bitcoin, Ethereum prices have also stooped lower than their typical range. In simple words, other altcoins are breaking their price range records while bitcoin and other significant cryptocurrencies remain blocked. In this article, we would look at the current status of Ethereum and bitcoin to analyze the increased price range of Altcoins.
Bitcoin and Ethereum Price Range Report
Although, bitcoin has fallen off from its 60,000 USD crest for low prices, currently, it is the best time to buy bitcoins. This means you can buy bitcoin for low prices, and later, when the price increases, you can sell it for a substantial profit. So, for individuals, would be purchasing now at undervalued rates, it is a profit but for the ones who have hoarded a lot of bitcoins already, it is a loss.
Similarly, Ethereum corrected from USD 2080 to 2050 ranges, from its record high of 2,150 USD. If there are any downtrends, the range may further drop below the 2000 USD level. And, that would be a grave drawback for Ethereum.
Altcoins Price-gain Report
Due to the failure of major cryptocurrencies, like bitcoin and Ethereum, altcoins can now take full advantage of the situation. There is already an increase in the price range. It has helped altcoins reach new milestones. For example:
- BNB reached 400 USD level
- ADA broke 1.250 USD level
- LTC rallied to reach above USD 232 resistance and tested 245 level resistance.