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Photo: PEXELS
Bitcoin trading peaked at $ 4341.44. It was a sudden turnaround from Thanksgiving week, especially considering that at some point it fell 80% from its highest peak.
The recovery was a welcome relief for investors who saw it fall 30% in the last 7 days. The increase further fueled other double-digit cryptocurrencies and trading exceeded $ 20 billion a day, based on CoinMarketCap.com reports.
The increase in the market also recorded substantial gains in terms of XRP, which increased by 12% and Ethereum rose by 14%. However, the increase hardly compensates for the losses of investors who have suffered losses this year, and is particularly painful for when considering this time the last year was valued at over $ 16,000.
This translates into a drop of more than 77% from the highest value of Bitcoin and experts using cryptocurrencies with various traders, such as those marketed by Betenemy, the increase is good news.
Andy Bromberg, president and co-founder of CoinList, a digital token platform, commented that the increase may have led investors to dig in the heel after a crazy week. Bromberg added:
"Today's increase is primarily a reaction to the precipitous falls of last week and people think it may have been an overreaction."
Bromberg also complained that due to the fact that the encrypted markets are small in comparison, a single buyer making a large purchase can often start an avalanche. In addition to this, the CEO of BKCM, Brian Kelly said the increase may have received a boost following very tough wars related to the end of Bitcoin Cash.
After Bitcoin has split into two competing versions, the saga of those who finance Bitcoin Cash with the sale of Bitcoin is returning to the starting point and now these buyers are no longer on the market.
While today's positive news has not seen double-digit peaks, it has been a positive step forward for the encrypted markets as it shows buyers that trading in this market is a legitimate asset class.
At the beginning of the week, Bitcoin gained further momentum of recognition after the president of the New York Stock Exchange, Jeff Sprecher said on Tuesday during the Consensus Invest conference that there were titles on cryptocurrencies that flop, there is a future for the regulated markets of digital activities.
Sprecher is claiming that through the Intercontinental Exchange via Bakkt, a new startup planned to be active this January. In addition to this, both VanEck and Nasdaq intend to start offering cryptocurrency products, including Bitcoin futures, during the first quarter of 2019.
However, while this is good news for investors, and offers a higher degree of legitimacy, the SEC president said that before he could be comfortable giving the go-ahead, he would first need to see some market issues. resolved.
The exact issues were not mentioned, but the good news is that Clayton did not close the door, giving the green light to those problems that have been solved.
