Bitcoin Falls to $42,000, Ethereum Classic Rises Another 10%

Written by C, Fiona

Last updated: 2022-03-24

Why Trust BTCC

BTCC, a seasoned player in the cryptocurrency sector, has established a solid foundation of credibility through its over a decade of platform operation and profound industry experience. The platform boasts an experienced team of professional analysts who leverage their keen market insights and profound understanding of blockchain technology to offer precise market analyses and investment strategies to users. Furthermore, BTCC adheres to rigorous editorial standards, ensuring that every report and analysis is fact-based, striving for objectivity and fairness, thus providing investors with authoritative insights they can rely on. In the rapidly evolving cryptocurrency market, BTCC stands out as an indispensable partner for numerous investors and enthusiasts due to its stability, professionalism, and forward-thinking approach.

While Bitcoin and most alternative coins have stalled since yesterday, Ethereum Classic is holding on to its impressive gains. After briefly surpassing $43,000 to mark a 20-day high, Bitcoin shrank slightly and fell back to its all-time high of around $42,000 in January 2021.

Bitcoin falls to $42,000

Over the past few days, the major cryptocurrencies have been running quite smoothly without any excessive movement in either direction. On March 18, BTC spiked from $40,000 to a daily high of $42,000, the largest price gain ever. It dropped a few hundred dollars over the next few days before launching another attack yesterday. This time, the bitcoin price spiked $2,000, topping $43,000 for the first time since March 3. It stayed near that level for most of the trading day, but the bears kicked in and pushed it south. As a result, BTC fell to $42,000 and is now back at that level. As a result, its market cap has dropped slightly to $800 billion.

Altcoins Stalls, Ethereum Rises

Altcoins have made impressive gains in the past few days, but most have seen small declines since yesterday. Ethereum hit $3,000 for the first time in weeks, but failed to stay above the coveted level. Shares of the second-largest crypto company are down 2% to $2,950 so far. Binance coin, Ripple coin, Avalanche coin, Dogecoin coin and Shiba-Inu coin are also slightly in the red. In contrast, Cardano, Solana and Polkadot saw smaller increases. However, Ether Classic continues to steal the show. etc is up 11% and 85% in the past 24 hours and week, respectively. As a result, the asset is now close to $50. Since yesterday, the market capitalization of the crypto market has fallen slightly, but it is still above $1.9 trillion.