As predicted, the market capitalization of the cryptocurrency market is returning to the pre-plunge level. It should be noted that certain coins do it faster than the market in general. Litecoin grew 16.8% over the course of the last 24 hours, while Bitcoin added ‘only’ 8.6%.
The most recent plunge, presumably caused by the ICO ban in China and overheated cryptocurrency market, turned out to be a temporary setback for crypto investors. Lower prices — during the short-live recession Bitcoin depreciated 25% — created an ultimate buying opportunity for bullish investors.
After a $134 billion dip on Tuesday, the market is back in the green with a capitalization of $159 billion, regaining $20 billion of its lost value in 24 hours. The recovery can be expected to continue. The Chinese ICO ban contributed to the downward dynamics but only for a short period of time. The market of the crypto assets is recovering from the most recent decline, as well. Over the last day it did manage to recover $1.5 billion, effectively growing 20%.
Temporary downfalls of the cryptocurrency market are a natural part of its growing cycle. For assets that add to their value hundreds and thousands percentage points in a matter of months, a 25% decline is notable but still far from devastating. The market rebounded quickly and another round of growth can be expected now.Trade now
NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.
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