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Ethereum And Dogecoin Join The Crypto Bounce Back After EL Salvador Adopt BTC As A Currency

Following a massiveprice drop at the start of the week, the crypto market has rebounded back on Wednesday, with bitcoin, Ethereum (ether), Cardano (ADA), and dogecoin all showing signs of recovery. 

The news from El Salvador that BTC will be recognised as legal tender, allowing consumers to use it to pay for goods and services in the Central American country, lifted the cryptocurrency market. 

Following the news, the price of Bitcoin increased by 5%, while the price of other major cryptocurrencies increased by a few points as well.

The increase lifted the total market capitalization of all cryptocurrencies back above $1.5 trillion, halting a price decline that began in mid-April for the time being. 

Throughout the collapse, Bitcoin has steadfastly refused to fall below $30,000, with some analysts seeing this as a point of no return and the last proof that it has entered a bear market. Good luck to everyone

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