The Bitcoin and Cryptocurrency markets are moderately retreating while the Nasdaq, S & P 500 and Dow cancel their Christmas losses.
Bitcoin and other cryptocurrencies recorded a strong rally until Christmas, with a total market capitalization rising from $ 122 to Wednesday, December 19 to $ 146 billion on Christmas Day, December 25; an increase of 20 percent. Bitcoin showed similar performance, going from $ 3,800 to $ 4,250 per coin.
These gains have been more or less canceled since December 26, as Bitcoin has normalized back to price levels of around $ 3,800. However, the market has still retained 7 billion dollars market capitalization, sitting at a total of $ 129 billion.
Meanwhile, the Dow achieved a record of 1086 points (a 5 percent increase), its best session the day after Christmas ever. The S & P 500 and Nasdaq also posted high returns, rising 5% and 5.8% respectively.
These gains come after a general landslide in the December stock market, with the Dow falling 15% before today's rally.
After the robust stock market year of 2017, it is proven that US markets are squeamish: US Treasury yields have fallen to 2.72%, the lowest levels since April. When Treasury yields are low, this generally indicates that market confidence is weak, as explained by Investopedia.
Overall, the encrypted markets are still up 27 percent after the minimum hit $ 100 billion in December 15th. Month on month, total market capitalization it's on a modest 5 percent.
The recent price decline could indicate consolidation before any further price movement. The fact that the market makes another rally or that it slides over the previous minimums is still undecided.
Bitcoin, currently in first place by market capitalization, is falling 1.92% in the last 24 hours. BTC has a market capitalization of $ 66.41 billion with a 24-hour volume of $ 5.26 billion.
Graph of CryptoCompare
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