Over the past 24 hours, after a sharp decline in prices for basic cryptocurrencies, the crypto-market has added 12 billion US dollars to total capitalization, according to the CCN news agency.
In a short period of time (last 24 hours), the evaluation of the cryptocurrency market increased from 115 to 127 billion dollars. Such popular cryptocurrency assets like Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH) and many others recorded a price increase in the range from 6 to 12 percent.
The most significant was the jump in the price of Bitcoin Cash (BCH), registering an 11 percent increase in value. But its price remains below the support level of $ 200.
After November 25, the price of Bitcoin "digital gold" fell to its annual minimum of 3.456 dollars, and the price of Ethereum for the first time since May 2017 fell to double digits - such a sharp rise in the level of capitalization seems like a grandiose event.
Alex Kruger, a technical analyst and trader, said that it is still unclear whether cryptocurrency prices will fall or rise. Since, it is still unclear the real causes of the fall and collapse in the market.
"(...) Now think what it was. It’s impossible to know if a crash is a short or long-term failure (...)"
Just a day after A. Kruger's statement, the situation changed a little. During the 24-hour period, the price of Ethereum crypto-coin increased from 98 to 113 US dollars, which is more than 7 percent. Bitcoin and XRP increased by 6 and 8 percent, respectively, while being supported by a decent increase in tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details volume.
Bitcoin has recovered from $ 3,500 in the last 12 hours. But there is still a chance that this asset will drop to a new annual minimum of $ 2,950, which will mean a drop in "digital gold" by 85 percent of its record price maximum. According to Don Alta, financial analyst, this is "the craziest dumping I've ever seen in the crypto-sphere."
Editor: Yuliya Soroka
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