Bitcoin (BTC) starts this week lower, but holding above $37,000. The coin peaked at $38,300 in the last 24 hours and is now trading down 2.4% and selling at $37,255.19, according to data from the CoinGecko.
A simple analysis of recent data shows that the main cryptocurrency on the market has been recovering. Saturday (29), when the price passed US$ 38 thousand, the accumulated of seven days registered an increase of 8%. Now that index is +2.7%.
It is worth remembering that until very recently, the accumulated seven days showed a double-digit drop and BTC was worth just over $33,000.
The Bitcoin Price Index (IPB) is at BRL 202,063.01.
The main cryptocurrencies on the market are down, and for some of them the bumps are big: Binance Coin (-3.9%), Cardano (-4.5%), Solana (-5.8%), XRP (-5.1%), Polkadot (- 6.8%), Earth (-8.4%), Dogecoin (-4.0%), Avalanche (-6.4%) and Shiba Inu (-5.3%).
Second largest cryptocurrency on the market, Ethereum (ETH) is in a similar situation to Bitcoin. On Saturday (29), it hit US$ 2,610 and was up 8.6% for the week.
Now, this Monday (31), Ethereum operates down 3.3%, is sold at US$ 2,539.30 and the result of the last seven days is -0.1%.
But still: a week ago the token sold at $2,172.
Chinese new year
The volume of cryptocurrency transactions should be low for the next few days due to the Chinese New Year, the most important holiday in the country. The date is celebrated in several countries in Asia and causes many traders to stay out of the market for a while.
To give you an idea: major stock exchanges in China, Hong Kong, South Korea and Singapore are closed during this holiday.
Bitcoin and cryptocurrencies operate 24/7, but the humans doing the operations are off for a while.