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Cryptocurrency Market Recovers after a 3-Day Loss

1 week ago 402 views

The cryptocurrency prices reached record-breaking high on May 5 and have been falling continuously since then. After 72 hours, the prices are gaining back. The entire cryptocurrency market is valued at a total of $432 billion today with a total of 1595 digital assets. After a 3-day loss, the Bitcoin Cash market rebounded with a 4% gain and a total of 14.3% gain over the past week. Over the past 24 hours, the trade volume of BCH has reached around 1.2 billion.

The crypto market has been bullish since sometimes and the graphs show that there are no possibilities of bears taking the reins anytime soon. After a short set-back, the overall market is doing well today. According to the market valuation, the Bitcoin Core (BTC) has been up by 1.99% in the last week. It is currently trading for $9,343. A close second to the leading BTC is Ethereum which is averaging at $754 per ETH. Though the entire market is gaining, Ripple is still in the downfall with 0.53% loss today.

The last week has been on a decline as far as the markets go, but the investors are still optimistic about the market scenario. According to them, the May month will be a turning point. The optimism comes from the fact that every year before the Consensus conference in New York, the prices of BTC take a significant hit. It has been observed that same thing happens every time since the past 4 years. It is also possible that most digital assets might take a 70% hit by mid-May. But all-in-all the market is optimistic. It will recover and continue to rise.