Bitcoin, the largest crypto by market cap, is currently back above the $62K price level. The leading digital currency previously sustained a brief dip below the $60K threshold during Monday’s early hours. However, within just three hours, the market value of BTC surged from $1.13 trillion to $1.17 trillion – essentially a $40 billion increase. As it stands, BTC is currently changing hands at $62,185, which represents an increase of 1.85% within the last 24 hours. The asset is conversely down by just under 1% across the last seven days, according to Coinmarketcap.
According to crypto trading analyst Michael van de Poppe, BTC regenerating on its price point signals conformity with prior expectations. In van de Poppe’s own words, the token’s price movement is “going according to plan.” Furthermore, the assumption that BTC will hit at least $100K by the end of the year is still very much alive. Certified technical analyst Crypto Birb, also supports the $100K-assumption, particularly since BTC ended October on a roll – with a new all-time monthly finish. However, Crypto Birb suggested that some investors were still not trying to entertain such a possibility because “they’re short from $30k.”
Meanwhile, some of the altcoins also logged impressive numbers. For instance, ETH, the second-largest crypto by market cap, attained an all-time high of $4,400 at the end of October. The coin is currently trading at $4,309, which is a 0.70% increase on the day, and 4.04% within the last week.
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