Notably, on Monday, Bitcoin fell to a five-week low of $38,547; however, the world's largest cryptocurrency has regained itself.
Digital Desk: On Tuesday, Bitcoin's price surged and traded above $40,000. Moreover, other prominent cryptocurrencies, such as Ethereum, were trading in the green, CoinDesk reports said.
Notably, on Monday, Bitcoin fell to a five-week low of $38,547; however, the world's largest cryptocurrency has regained itself.
On Monday, Ethereum also fell below $3,000, but the world's second-largest cryptocurrency by market value bounced back.
Bitcoin was trading at $40,713, up by 4.46 per cent. Meanwhile, the price of Ethereum went up by 4.23 per cent at $3,042.
"Bitcoin and Ethereum retreated to US$40,000 and US$3,000, respectively, after hitting US$38,000 and US$2,900 on Monday. After a brief period of decline, BTC appears to be regaining its footing. BTC's support is at $37,000, while resistance is above $45,000, indicating bullish activity owing to oversold conditions," Mudrex CEO and Co-Founder Edul Patel stated.
Reports said that XRP increased by 4.85 per cent, Terra increased by 16.30 per cent, Solana increased by 4.39 per cent, Avalanche increased by 6.14 per cent, Caradano increased by 4.82 per cent, Stellar increased by 6.90 per cent, and Polkadot increased by 5.22 per cent.
Other popular altcoins such as Dogecoin increased by 3.64 per cent and Shiba Inu increased by 3.65 per cent.
"Terra, on the other hand, has become the third-largest stablecoin, earning about 14% in a single day. STEPN's Green Metaverse Token has grown by roughly 38%, " Patel stated.
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