CBDC adoption: Russia enters final phase to test digital ruble
Russia is in the final phase of testing a central bank digital currency (CBDC), which will be used for both national and international...
Looking at the charts from Coin360.com, it’s evident that the leading tokens are on the rise showing green following the recent dip.
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Bitcoin price
After a run of growing price spikes, Bitcoin saw a correction in its value last week, dropping from $13,796.49 to $9,737.88 in less than seven days. Despite the drop in price, however, Bitcoin has been regaining slowly to see $11,297.06 from a 24 hour low. This is a whopping 12.77% increase in daily trading returns. If the token can maintain its trajectory with modest corrections, it might be that the crypto summer is to be a profitable one for traders.
Ethereum price
Ethereum price, which often follows the trend of the leading Bitcoin, is showing modest gains with a 5.70% increase in price. Over the past 24 hours of trading, the leading altcoin saw its low point at $272.60 and then gained almost $90 to see a 24-hour high of $361.40. Like Bitcoin, this gain came after a dip in price following the recent major surge.
To the next all-time high?
As Bitcoin was rising quickly, cryptocurrency advisor and trader Josh Rager tweeted that we need to see the pullbacks and corrections in order to hit the next all-time high:
$BTC 30%+ pullback coming?
Yes, eventually. If history repeats, there should be plenty of strong pullbacks on the way to next peak ATH
There were at least nine 30%+ pullbacks from last cycle accumulation & uptrend
Plenty of buying opportunities ahead, don’t let it shake you pic.twitter.com/fMnhKzlpA8
— Josh Rager ? (@Josh_Rager) May 22, 2019
Given this point, the dips in between Bitcoin and the cryptocurrency market gaining value could be the best thing the cryptocurrency market could see.