Bitcoin and Ethereum started to grow after a historic drop

The flagship cryptocurrency and the main altcoin managed to rise in price yesterday, leading crypto analysts to predict that the problems after the FTX exchange collapse will soon be over. Bitcoin managed to rise by 1.5% to trade at $ 16,600, while ethereum gained 4% to reach $ 1200. The total market capitalization increased by $ 12 billion.

Despite the positive performance on November 24, today the crypto market again showed a drop, with BTC $56,825.64 Bitcoin -0.75% Market capitalization $1.12 trillion VOL. 24 hours $1.14 billion and ETH $2,968.62 Ethereum -1.73% Market capitalization $356.83 billion VOL. 24 hours $0.54 billion among the digital assets that went into the red. According to cryptocurrency experts, after the collapse of the Сем Бенкман-Фрід" href="https://noworries.media/biography/sem-benkman-frid/" data-bio-id="3697">Sam Bankman-Fried exchange, both tokens fell by 75% from their historical highs set last year.

As for the forecasts of the flagship cryptocurrency’s value, an analyst under the pseudonym Kaleo expects BTC to fall by 22% from its current price. As Kaleo told his 545,700 Twitter followers, one should not expect bitcoin to recover, as the cryptocurrency has not yet reached its bottom. The expert predicted that the flagship cryptocurrency will fall to $ 12,500 in the near future.

However, some members of the cryptocurrency community believe in the growth of bitcoin as early as 2023, including billionaire cryptocurrency investor Tim Draper. Last week, the digital asset owner shared his prediction that BTC will trade for $ 250,000. Draper is convinced that the problems in the crypto sector related to the bankruptcy of the FTX exchange will not affect bitcoin’s achievement of a historical maximum. «There are no changes in the forecast of bitcoin’s value. I expect $ 250,000 for BTC at the beginning of next year,» the investor told Cointelegraph.