After last week’s bloodbath in the crypto world they are finally in recovery mode as of Thursday 13th. The market shows all the signs of a dead cat bounce so the bulls aren’t quite free to run yet. The past 2 days have seen an extra $10 billion added in market cap to crypto’s with Ethereum showing a double digit gain. Crypto circulation now sits at $204 Billion after showing a 2018 low of $186 billion.
Ether dropped to a 16 month low of $168 on Wednesday and has now bounced up to $226, an immense increase of 34%. Overall cryptocurrency now consists of 43.4%. Whilst Ethereum, Litecoin, Ripple and Monero saw huge value fluctuations, Bitcoin meanwhile only rose by 3%.
Whilst swings caused some of the currencies volatility to fly all over the charts, Bitcoin, dare I say it, kind of kept its cool. Yes, the value fall was more than any other cryptocurrency BUT, this is only because of Bitcoin’s high value in comparison to any other coin out there. Overall, the percentage of fluctuations was the smallest, does this mean Bitcoin is becoming more and more stable?
An over sale of major assets caused the values of cryptocurrencies to plummet, analysts show this is likely to continue. Who knows what the future holds for the cryptocurrency world.