Cryptocurrencies at the beginning of the month

Bitcoin, as well as Ethereum, Litecoin, and other cryptocurrencies, have the potential to transform the way people are paying for various bills. Bitcoin’s price fell during the second half of September and especially for the last several days. However, this does not mean that Bitcoin will collapse. It is not surprising that whenever Bitcoin’s price fells, this fact makes people nervous around the world. Moreover, since the beginning of October Bitcoin’s price is increasing again.

The price of Bitcoin changed numerous times during the last several years. In December 2017 Bitcoin’s price was close to reaching $20,000. The digital currency market is developing, so price fluctuations are not something unusual for Bitcoin.

Cryptocurrencies on Tuesday

Bitcoin is well-known around the world. For the last several days Bitcoin struggled to deal with problems. It is worth mentioning that by the end of September, its price fell to $7,670, which was the worth result in September.

However, since the beginning of the month, Bitcoin was able to break the resistance level above the $8,000 and $8,200. On October 1, Bitcoin’s price was $8,332. The next resistance level for Bitcoin is to overcome the $8,500 level. It means that if Bitcoin can reach this goal the price, may reach $8,750. During the upcoming days, Bitcoin will try to return to $9,000, and this will be another sign of recovery.

Ethereum is the second-largest cryptocurrency on the market. Ethereum, as well as Bitcoin, struggled to cope with resistance levels during the last several days. On September 30, Ethereum was able to break the resistance level above $170 level.

Ethereum continued its journey to the top after overcoming the resistance level above $175. The good news for this digital currency was that its price even reached more than $180. On Tuesday, Ethereum’s price was $179.8. It means that Ethereum was close to returning to this level.

On the first day of October two largest cryptocurrencies on the market had the chance to increase their gains.