Over the past 24 hours, December 18, the cryptocurrency market showed one of the strongest positive impulses, cryptocurrency increased in price from 10% to 40% – as reported by the CCN news agency.
The EOS crypto-coin, which was the sixth largest cryptocurrency last week, today outperformed Tether (USDT) and Stellar (XLM), with a staggering 35 percent price increase from $ 1.94 to $ 2.62.
After reaching its daily price peak of $ 2.62. The price of EOS fell again from $ 2.62 to $ 2.42. The daily increase in cryptocurrency closed at about 25 percent.
The price of cryptocurrency increased
Since the price of Bitcoin increased by almost 11 percent, most large cryptocurrencies and Ethereum protocol tokens (ERC20) showed a significant positive jump in the range from 10 to 40 percent.
Some analysts suggest that the "price correction" was caused by the contraction of short contracts on margin tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details platforms. An 11 percent increase in the value of Bitcoin completely reversed the short-term market trend. "Correction" made it possible for the course to finally get out of the trend of a free fall in price, without significant sales pressure and volume.
Today, traders say with confidence that in a few weeks Bitcoin can even out in price up to 4000-5000 dollars.
Many cryptocurrencies have recovered in the last 24 hours, but on a monthly or quarterly basis — most digital assets fall significantly relative to both Bitcoin and the US dollar. According to the overwhelming number of traders, the increase in the price of digital assets was caused by a chain of recent laws around the world that "open the door" to cryptocurrency in the global economy. For example, the fact that today the pensions of Venezuelan citizens will be paid at El Petro, or the introduction of cryptocurrency tax payments in Ohio – had a positive impact on the volume of trade and, accordingly, the price.
At the moment, the price of cryptocurrency increased from 10% to 40%, but it is assumed that in the near future digital assets will fully recover after the fall.
Editor: Alyona Nabok