Bitcoin, Ethereum, Dogecoin Spike on FTX Revival Hopes

Major coins traded in the green Thursday evening following news that FTX is exploring the possibility of rebooting the bankrupt crypto exchange.

Cryptocurrency profits Price
Bitcoin +1.57% $21,075
Ethereum +1.83% $1550
Dogecoin +0.82% $0.08147

What Happened: Bitcoin BTC/USD regained the $21,000 level it lost the previous day and was up 1.5% over the past 24 hours. Ethereum ETH/USD rose 1.83% to $1,550 and Dogecoin DOGE/USD rose 0.85% to $0.081.

Top Intraday Profits

Cryptocurrency profits Price
Frax sharing +19.06% $10.23
Enius coin +15.46% $0.41
bandage +12.85% $0.80

US stocks closed lower on Thursday as investors grappled with renewed fears of a potential recession. The Nasdaq Composite was down 0.9%, the S&P 500 was down 0.7% and the Dow Jones Industrial Average (DJIA) was down 0.7%.

See more: Best crypto day trading strategies

“Bitcoin is higher today and mostly finds support above the $20,000 level. The crypto space is being cleaned up and as long as we don’t see a major reputable exchange go under, traders will mostly shrug off news of the demise of smaller crypto companies. Ed Moja, a senior market analyst at OANDA, seen in a note by Benzinga.

Crypto Analyst Michael van de Poppe warned investors not to get too excited about things to come Genesis case, but indicated that there is still some dynamism in the market. He emphasized that the crucial area to watch right now is between $21,100 and $21,300 for BTC.

stretches capitala pseudonymous analyst, believes that if Bitcoin’s continued upward trend follows that of 2019, the price could easily reach $32,000 in the coming months.

Read next: FTX’s new CEO aims to revive the defunct cryptocurrency exchange: what you need to know

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