The crypto ecosystem is showing signs of recovery on September 22, following a 48-hour corrective period in which Bitcoin and altcoins revisited critical support levels. Investors in stocks and cryptocurrencies were clearly concerned about the possible bankruptcy of the Chinese real estate company Evergrande and many feared that the possible default could trigger a crash in financial markets around the world.
These concerns were temporarily allayed after the real estate company was able to reach an agreement with bond creditors and avoid defaulting on its technical obligations, and this helped trigger a recovery in the broader cryptocurrency market that pushed up the price of Bitcoin. (BTC) at a daily high of $ 44,000.
Altcoins bounce 35% after Bitcoin rally to $ 43,000 level
Data from Cointelegraph Markets Pro and TradingView show that since hitting a low of $ 39,572 in the evening hours of Sept. 21, Bitcoin's price rallied 11.3% to hit an intraday high of $ 44,021 and the asset is currently trading close to of the USD 43,400.
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