Bitcoin jumps by more than 20 percent as Crypto markets regain their equilibrium
Cryptocurrencies are traded in green today after a stormy seven days.
Over the past 24 hours, the total market capitalization of all cryptocurrencies has increased by 25 percent to $ 352 billion, according to the provider CoinMarketCap. The total fell to $276 billion yesterday, the lowest level since November. 26.
Although it is gratifying that this figure is still at least 30% from last Wednesday above $ 500 billion. In addition, he is still 57 percent lower compared to the record figure of 830 billion dollars in January.
At the time of writing, top 10 cryptocurrencies by market capitalization report double-digit profits.
Bitcoin, the world's largest cryptocurrency by market capitalization, has grown by 22 percent in the last 24 hours, again, according to CoinMarketCap. At the time of writing, the coindesk Bitcoin price Index (Bpi) shows the average price on global exchanges at $7.845.
So why the rise? On the one hand, market observers told CoinDesk that the us Senate's softer approach to bitcoin regulation, publicly debated yesterday, is well suited for cryptocurrencies.
In addition, according to technical studies, the sale of bitcoins looked excessive, and the correction is up overdue. BTC can also pull up other crypto-currencies, given the close correlation between bitcoin and other cryptocurrencies.
However, the leading cryptocurrencies have recovered poise today, but still not from the forest if we consider the week's negative performance for the week.
In particular, NEO has been allocated an increase of 50 per cent over the past 24 hours, although it continues to report a 30 per cent decline on a weekly basis.
In addition, another 15 percent increase in prices for litecoins and cryptocurrencies will report profits week after week.