Good news for investors in cryptocurrencies is finally emerging on the horizon. The week began with sharp declines in market valuation, as liquidations increased minute by minute on Monday. However, Tuesday and Wednesday brought more optimistic market conditions.
Nevertheless, many remain concerned that the recovery the market has seemingly enjoyed since February may be over. Although we cannot predict with certainty what the future holds, a detailed analysis of what happened since Monday may help alleviate these concerns.
In the following paragraphs, we turn to the Coinbase price chart to provide an overview of the performance of the three most popular cryptocurrencies in the current market over the past 72 hours.
Bitcoin
Let’s start with an analysis of the most popular coin in the market. Bitcoin began the week experiencing a price decline of 26.76%, being sold at €45,078.24 on Monday at 7 AM (GMT+1). Twenty-four hours later, on Tuesday morning, the crypto was quoted at €50,726.03. On Wednesday at 7 AM (GMT+1), Bitcoin was trading at €52,109.70, showing a slow but relatively steady rise.
Ethereum
The second most popular cryptocurrency in the world, Ethereum, started the week recording a price decline of 31.33%, trading at €2,019.75 on Monday at 7:30 AM (GMT+1). Tuesday proved to be more profitable for investors who saw the crypto rise to a price of €2,242.95. On Wednesday, market conditions continued to improve, and ETH experienced a modest increase to €2,297.82.
Tether
Lastly, we have Tether, which holds third place in the cryptocurrency rankings by market capitalization. Like the other two, this crypto started the week negatively. Tether recorded a price decline of 0.56% on Monday morning, and unlike Ethereum and Bitcoin, it did not recover on Tuesday and Wednesday, maintaining a price of €0.92.
As shown by the data above, the critical market conditions of Monday were slowly overcome by Bitcoin and Ethereum in the following days. However, Tether is still struggling to rise but has proven stable, avoiding a larger price decline, which can be viewed favourably by investors. All three cryptocurrencies, along with other 257 digital assets, including NFTs and cryptos like Dogecoin, Solana, XRP, and USDC, can be found on Coinbase.
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