Bitcoin Rebounds Past $20K, Ether Soars Above $1,100

June 20, 2022 World Blockchain

Bitcoin surged past $20,000 Sunday afternoon to $20,580 a coin, a 16.9% gain off its Saturday lows.
The rally comes just one day after bitcoin, the largest cryptocurrency by market capitalization, fell below $20,000, its lowest price since November 2020. As of press time, bitcoin was trading at about $20,383 a coin.
Bitcoin’s price surge reflects traders’ renewed appetite for risk, even as the market continues to digest the fallout surrounding crypto lending giant Celsius and crypto investment firm Three Arrows Capital.
“Willing buyers have been in cash waiting to buy cheap coins,” Jordi Alexander, CIO of Selini Capital, told CoinDesk in a Telegram message. “They have to determine if they will get to buy another 20% lower, or if this is their chance. If they wait too long, they will have to chase higher.”