- The crypto market recovers after experiencing a series of bearish dips in the past few days.
- Bitcoin close in going back again above $40k.
The crypto market is back on its feet right now after experiencing a series of bearish dips in the past few days. Specifically, most of the cryptocurrencies are now creating a 24-hour growth rate ranging from 8% to 20%.
For example, Ethereum (ETH) is now trading over $2600 while Binance Coin (BNB) trades at almost $360, both of them have a 24-hour growth rate of over +15%. Indeed, this is a piece of news that would favor crypto investors around the world.
Aside from altcoins that are now slowly rising from the market fall, Bitcoin, the king of cryptocurrencies, is now closing to go back above the $40k resistance level. Based on the statistics shared by CoinGecko, Bitcoin currently trades at a bullish price of over $38k.
This aggressive performance of Bitcoin made the crypto investor and enthusiast Lark Davis react:
— Lark Davis (@TheCryptoLark) May 25, 2021
On the other hand, the CEO of MicroStrategy and Elon Musk, the CEO of Tesla and the other Bitcoin miners, lead a meeting to address environmental concerns about Bitcoin mining. As a result, the meeting gathered many different opinions across the crypto community; some agree while others disagree.
Yesterday I was pleased to host a meeting between @elonmusk & the leading Bitcoin miners in North America. The miners have agreed to form the Bitcoin Mining Council to promote energy usage transparency & accelerate sustainability initiatives worldwide. https://t.co/EHgLZ9zvDK
— Michael Saylor (@michael_saylor) May 24, 2021
Regardless, the crypto market is now on its way to rebuilding itself from the past week’s market bloodbath. Let us hope that this market recovery continues despite the crashing economy brought on by the global pandemic.
In other news, the CEO of TRON, Justin Sun, explains that the month of July and August will be the next bull market run. Truly, these words bring hope and excite the crypto community worldwide.