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Bulls are back – Cryptocurrency market recovers $10 Billion

Photo by Pixabay on Pexels.com

The crypto bulls seem to be back even if it’s for a short period. All the major currencies including Bitcoin has seen a good spike in price.

Ethereum is leading the pack and is up more than 15% from where it was trading yesterday at the same time. Bitcoin has broken the key resistance level of $3800 and is trading close to $3900 at the time of writing, which is more than 5% from yesterday’s price.

All the coins other than the stable coins like Tether, True USD and Paxos are trading in green and have made significant gains.

EOS is the other top 10 coin, which has made the most gains in the last 24 hours. The whole marketcap increased by almost $10 Billion in the last 24 hours.

It would be interesting to note that the Ethereum Constantinople update is around the corner and due in another 2 – 3 weeks. Even though almost all the coins broke from their respective resistance levels, it is still early to speculate whether the market has recovered from the longest slumps in the history and the current trend is owing to buy pressure or else this was another dead cat bounce.

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