Good news to all crypto traders!
Bitcon has regained its power and back to the track in the market.
The King of crypto has regain and reach $11,000 mark over the weekend.
Not just these, the total crypto market cap has back to $500 Billion, it seems a good sign for the market.
Since the start of 2018, we have seen a great degree of volatility in this market.
The main reason behind this regain in value is the soaring price of top five currencies. Bitcoin is leading the race with more than $10,000 value. The market cap of the cryptocurrencies crossed $500 billion on Saturday.
Since January 30, this is the highest value. This shows a 22% increase over the past seven days and 84% increase over its lowest value of $276 billion on February 6.
Here, it is worth mentioning that cryptocurrency market cap was $595 billion at the start of the year.
It went up to $826 billion on 8th January. This increase in the crypto market cap was temporary as the market went down to $427 billion on 17th January. Next day, it touched $579 billion. On January 21st, there was a spike in the values of cryptocurrencies and the market cap touched $636 billion.
January closed with a total market cap of all the cryptocurrencies at $491 billion.