Cryptocurrency Market Cap Recovers $600B, Bitcoin Surpasses $40K

Since making its low on Sunday, the cryptocurrency market cap has managed to recover $600 billion as Bitcoin jumped above the level of $40K for the first time in five days. It took five days for Bitcoin to recover its prices from the deep lows and take the total market cap to the green alone.

Bitcoin Reaches $40K, Cryptocurrency Market Cap Recovers

In the past few weeks, the flagship cryptocurrency has witnessed a lot of correction in its prices. The last correction started on Friday following more FUD from China which eventually became the reason for Bitcoin falling from the level of $42K to a low of $34K.

As witnessed, the situation worsened during the weekend and Bitcoin slipped to the level of $31K on Sunday evening. 

However, the bulls took charge at that point and reversed the path of the trajectory.

In addition to this, the reports revealed that Bitcoin began to increase in value gradually and did add several thousand dollars in a few days.

Moreover, in the past 24 hours, BTC has gone even further to advance in its prices and jumped above the level of $40K.

Also, it should be noted that at the time of writing this article, the price of the cryptocurrency stands just over the mark of $40K and the market capitalization of the flagship currency is $750 billion,

Ethereum and Binance Coin Surges

Bitcoin did not move alone, it took the altcoins with it as well, and as a result of this, the price of Ethereum and Binance Coin witnessed recovery.

Ethereum has managed to gain over $1,100 since the point when it touched $1,700 and has marked the surge of 7% to make it up to the level of $2,800.

Talking about Binance Coin, it has surged by around 100% since it touched the level as low as $200, and currently, the price of BNB is $380.