$220 Billion: Crypto Market Continues Short-Term Recovery as Tokens Surge

[Zurcemozz]

What is Pushing the Market Upwards?
The volume of major cryptocurrencies including Bitcoin, Ethereum, Ripple, and Bitcoin Cash have not increased by a large margin in the past week. In fact, the volume of Bitcoin and Ethereum, at $4.3 billion and $1.9 billion, are lower than the volume they recorded last week when Bitcoin dipped below $6,000 and Ethereum dropped to $250.

One of the few contributing factors to the recent rally of the crypto market is the initiation of a corrective rally, which Bitcoin has historically done throughout the past nine years. Each time its price would fall 70 to 90 percent, it would surge back up, beyond its previous all-time high, in a mid-term rally.

The momentum of the crypto market is stronger than previous corrective rallies, mostly due to the strong performance of tokens and small market cap cryptocurrencies

source link: https://www.ccn.com/220-billion-crypto-market-continues-short-term-recovery-as-tokens-surge/