Cryptocurrency Market Recovers After Few Months Bearish

Cryptocurrency market bearish end? After a long dip in the crypto market, it seems like the market is coming back to the bull run. At the time of writing, the entire crypto market cap increased by 2.12% to over $2 trillion, while the trading volume went up by 5.77% to over $105.03 billion, according to CoinMarketCap.

Currently, the bullish uptrend appears to be a result of Russia’s statement that the country might accept Bitcoin from allied countries as a mode of payment for oil and other resources.

Moreover, Bitcoin (BTC) leads the market with other cryptocurrencies that are green for the last 24-hours. At press time, BTC, the largest cryptocurrency, trades at $44,155.57, up by 2.64% in the last 24 hours. Meanwhile, Ethereum (ETH), the second-largest cryptocurrency by market capitalization, also increased by 3.32%, trading at $3,143.69.

Among other major coins, Cardano (ADA) climbed by 3.67% at $1.15, Algorand (ALGO) up by 6.11% at $0.9066, while Binance Coin (BNB) traded at $414.47 up by 1.67%. Also joining the trend is Solana (SOL), which increased by 6.89% at $103.38, and Polkadot (DOT) which is trading higher by 1.13% at $21.15, at the time of writing.

Additionally, the famous meme coin Dogecoin (DOGE) rose by 0.69% at $0.1359. LIkewise, Rival Shiba Inu (SHIB) also rose by 0.39% at $0.00002464.

Crypto expert Lark Davis reacted to this upward trend by tweeting, “almost no one perfectly buys the bottom or sells the top. 99.99% of the money in this market is made in between.”