Tuesday afternoon saw Bitcoin, Ethereum, and Bitcoin Cash post minor against against the backdrop of a tepid crypto market recovery. Bitcoin SV continues to teeter on the brink of being the only major Bitcoin variant to not rank among the top 10 cryptocurrencies by market capitalization, closing out the period with a less than 0.5% gain.
Bitcoin’s 24-hour trading saw almost a full 1% gain after a significant drop during the middle of the day to under $3,500. At press time the Bitcoin price stood at $3,610. Stagnation appears to be the order of the day in this bear market, with some analysts predicting a drop to under $3,000 or even further south.
The bear market may continue for several more months or even years as industry participants figure out the best use cases for cryptocurrencies. Strict payment methods like Bitcoin, which has no serious decentralization application prospects at this point, may have long-term depressions on the cards. All the same, bears and hodlers are having a great time right now with discount prices expected to continue for some time.