Bitcoin Surges Past $20K Again! 💸

On it’s way back to 60K or just a temporary bump?

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Bitcoin (BTC) surged 8.26% early Friday to breach the psychological $20,000 level and lead the broader crypto market’s recovery.

The industry’s largest cryptocurrency by market cap plummeted as low as $18,644 on Wednesday and was mostly trading between $19,200 and $19,300 on Thursday.

Friday’s breakout, however, pushed the price to $21,000 and some change today, a level not seen since August 26, according to data from CoinMarketCap.

The bullish price action also helped to propel the cumulative market capitalization of all cryptocurrencies back above the $1 trillion mark, with Bitcoin currently dominating 38.5% of the market.

Bitcoin prices have been under pressure in 2022 after the collapse of algorithmic stablecoin terraUSD and subsequent bankruptcy filings from lender Celsius and hedge fund Three Arrows Capital.

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