There is never a boring day in the world of Bitcoin and cryptocurrency. All currencies are seemingly recovering their losses. The Bitcoin price surpassed US$2,000 again, but it looks like Ethereum is the winner of the day so far. This is especially true for the currencies showing large gains compared to yesterday.
Taking a closer look at the charts, we can see there is only one coin in the top 50 without a green number next to it right now. At the same time, people have to keep in mind these positive changes are a direct result of the Bitcoin price going up slowly. While it is good to see the Bitcoin price bounce back to above US$2,000, maintaining that position will be quite challenging. Such a retrace will effectively prove to be a tough time for any altcoin struggling as of late, including the likes of Ethereum and Dash.
Ethereum, on the other hand, notes an 18.02% gain over the past 24 hours, thanks to a trading volume which even surpasses Bitcoin’s. Many people still hope to see ETH return to US$400, but for now, it is a struggle to remain above US$160.
However, the Ethereum trading volume surpassing Bitcoin’s is not entirely surprising. It is still too early to tell if the cryptocurrency markets are effectively recovering.