Bitcoin hit an intraday high of $22,350 on the Bitstamp exchange before analyzing some gains.
Bitcoin ads managed to make an impressive comeback after the leading currency fell to its lowest level since mid-June last week.
The largest cryptocurrency has now gained around 9% in the past seven days.
Yahoo Finance analyst Jared Blikre recently noted that $30,000 and $40,000 could be Bitcoin’s next bullish targets.
Despite recovering to $22,000, Bitcoin is struggling to increase its market share. According to data provided by CoinMarketCap, its dominance has recently dropped below 39%.
Ethereum has outperformed Bitcoin a lot over the past month. The ETH/BTC pair hit 2022 high earlier this month.
The largest altcoin – Ethereum has benefited from the excitement surrounding The Ethereum Merge event, which is shaping up to be the most important even in cryptocurrencies this year. The second largest blockchain will eventually move to a PoS mechanism.
