Bitcoin Taps $23,500 But Altcoins Lead the Way With Impressive Gains

• Bitcoin initiated another leg up late on Friday and tapped $23,500 but was stopped in its tracks and has returned to familiar ground.
• Most altcoins have charted more impressive gains, led by Avalanche, MATIC, OKB, Dogecoin, and others.
• It was last week when the primary cryptocurrency skyrocketed from $21,000 to a multi-month high above $23,000.

Recently, the price of Bitcoin has been on an upward trajectory as it has risen from $21,000 to a multi-month high of $23,000. This is a 40% increase in value since the start of the year, which is an impressive start for the leading cryptocurrency. Late on Friday, Bitcoin attempted to break through this resistance and tap the $23,500 mark, yet it was pushed back and returned to its familiar ground.

Altcoins have been performing even better over the past 24 hours. Avalanche, MATIC, OKB, Dogecoin and other alternative coins have all seen impressive gains, with Avalanche leading the way with a 14% surge in value. On Wednesday night, Bitcoin experienced a price pump which saw it jump to $23,800 for the first time in over four months. Unfortunately for buyers, the bears quickly stepped in and sent the price back down again.

Overall, Bitcoin has been on a positive streak, yet it has been unable to break through the $23,500 resistance. Whether it can do this in the near-term remains to be seen. Altcoins have been able to perform well in the past 24 hours, which could indicate that there is still more upside potential to be explored in the crypto market.

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