Cryptocurrency Market Recovering After Massive Correction

[Cordillerabit]

The cryptocurrency market is getting back on its feet after a brutal day yesterday. The majority of coins have risen by 10-20% over the last 24 hours after more than a 30% fall on Friday, Dec.22.

The total digital currency market capitalization went from $650 bln to $430 bln yesterday and has now rebounded to $585 bln.

Bitcoin went from the all time high of over $20,000 to as low as $11, 970 in just a matter of days. By press time it has partially retraced its losses and is now traded at around $15,500.

Ethereum, the second largest cryptocurrency, lost almost $30 bln in market cap yesterday, but has largely recovered. Its market capitalization is now $72 bln. It now trades for around $720 on European exchanges and as high as $906 on South Korean markets.

Bitcoin Cash experienced the greatest price volatility of all major digital currencies over the last 48 hours. The price fell from $3,909 to $1,970 but at press time is back to $3,400.

https://cointelegraph.com/news/cryptocurrency-market-recovering-after-massive-correction