Bitcoin Registers the First Weekly Green since March 21st
In the last week, the crypto market recovered around $30 billion, while BTC finally surged after 9 weeks of losses.
After nine consecutive weeks of closing lower than the previous one, Bitcoin (BTC) finally managed to break this negative trend and marked its first green weekly candle since late March.
The asset jumped to and beyond $30,000 in the past 12 hours, as reported by CryptoPotato. Before that, the past seven days were more positive as BTC even spiked above $32,000 mid-week, seeing its first weekly green candle since March 21st. As of press time, Bitcoin is trading 4% up at a price of $30,990 with a market cap of $589 billion. According to BitMEX founder Arthur Hayes, the worst is already over, though he expects $25,000 for Bitcoin to hold and prices to eventually skyrocket.
CoinMarketCap also report that Solana went down for the 5th time in 2022, losing 12.5% in seven days with the price now at $40, a long way back to previous heights of over $200. Ethereum is down 2.5%, BNB – 3.3%, whereas Dogecoin managed to increase by 2.4%. Meanwhile, Cardano registered an increase of around 13% in its price.
The global crypto-market cap is today at US$1.28T with a volume of US$55.07 billion over the last 24 hours with an increase of 28.80%. Over the past seven days, it recovered around $30 billion of its total capitalization.