This morning, bitcoin has managed to grow to $16 930 dollars. Capitalization the cryptocurrency market has reached the level of $603 billion, Noted the strong recovery after total drop at the end of last week, when the cryptocurrency market a few days showed increased volatility.
On Friday, December 22, on the eve of Christmas, the cryptocurrency market was in a fever. Altcoins have lost up to 40%, bitcoin – 30%, reaching a value of $11 833 per coin. In one day the total amount of the cryptocurrency market have dropped from $650 billion to $430 billion.
Just a few days before, on 17 December, the bitcoin reached a record high of $20 078 that later led to disaster. Then the rate of BTC fluctuated between $16000-$17 000.
This was followed by several days of volatility. 24 hours after the terrifying fall, the cryptocurrency rebounded. However, recovery was not stable, and it was followed by the Christmas drop in the cryptocurrency market.
Nevertheless, bitcoin is gradually increasing and is trading at the time of publication of the article at an average of $15 000.
Market capitalization of crypto-currencies, also rose sharply and then fell at the weekend, has been steadily increasing since Monday. Now the market capitalization shows almost full recovery and is $606 billion.
Many bitcoin investors, including the co-founder of FINTECH companies TenX Julian Hosp, thought Friday’s drop rate is the perfect chance to purchase cryptocurrency at a discount of 40-45%:
“For a market expert it was really a pleasant failure. This fall was very, very healthy, and some of us have used it to buy a little more, getting a sudden 40-45% discount”.
Although this correction has caused a lot of anxiety, some analysts believe that it won’t last. So, Hosp optimistic, but in the future anticipate even greater correction of the cryptocurrency market, as users drop the extra coin and invest in those that have no real value and needed.