Bitcoin managed to return to values above $20,000

by in Cryptocurrency News

Bitcoin

Cryptocurrencies bounced back slightly on Tuesday morning after a poor start to the week.

The bitcoin rate rose to $20,413. Over the past 24 hours, BTC capitalization has reached $390.516 billion (+2.7%).

Ether (ETH) is also gaining in value, with the largest altcoin trading at $1,578 at the time of this review. XRP, Cardano (ADA), Solana (SOL) and Dogecoin (DOGE) rose 0.5% to $0.332, $0.452, $32.65 and $0.063, respectively. The capitalization of the crypto market increased on August 30 to $992.347 billion.

According to the CEO of the consulting company Venn Link Partners Sisi Lu, despite the negative dominating the market for risky assets, the support of around $20,000 worked, and bitcoin withstood the pressure.

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Many analysts agree that it was this psychological mark that became the fundamental value of cryptocurrency.

However, Fairlead Strategies' Cathy Stockton takes a more skeptical scenario. She believes that BTC will still sink to $19,500 or even below this level shortly.

According to the expert, a zone of strong support for BTC has formed in the range from $18,300 to $19,500, and traders should be guided by it.