- Bitcoin and Ethereum charts show signs of recovery after consecutive dips this week.
- Bitcoin now hovers at the 38,000 level while Ethereum is at $2,300.
- This is a good sign after a week of crashes from the crypto market.
The entire cryptocurrency industry experienced a crypto crash as portfolios and candles were bleeding red this week. However, the market is beginning to show a slight reversal as prices begin to bounce back.
If we look at the current charts at coin information websites like CoinMarketCap and CoinGecko, we can see that Bitcoin has recovered a bit. At the time of writing, Bitcoin is trading on an average of $37,000 to $38,000. This is still far from its highs of above 50k USD, but it may be interpreted as a good sign that the bull market is not yet over.
On the other hand, the second-ranked cryptocurrency by market capitalization, Ethereum, has also seen some recovery. As of now, ETH is trading between the $2,300 to $2,400 mark.
In the past week, we witnessed how Bitcoin fell to a 3.5-month low to the $30,000 level. This showed a 53 percent dip from its all-time high of $64,801 back on April 14. At the same time as the dip, ETH also fell below the $2,000 mark.
At the moment, many crypto influencers are expressing their faith in the crypto market and are posting that they are purchasing Bitcoin and other altcoins despite the many Fear, Uncertainty, and Doubts (FUD) spread by various sources.