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Having struggled with the recent massive sell-off of the market and the fear of hindering the end of the crypt, Bitcoin (BTC), Ripple (XRP) and Ethereum (ETH) have now managed to gather today. This spark hopes that the so-called Santa Claus gathering can be in full swing. The Santa rally describes the price increase during the month of December. It is generally observed until the last week of trading for the month just before New Year's.
Bitcoin (BTC) Price today – BTC / USD
Bitcoin (BTC) gained 10% after the rally at $ 3,500 in the last 24 hours
According to recent prices via the Bitstamp exchange based in Luxembourg, the price of Bitcoin (BTC) has increased by 10% in the last 24 hours to $ 3,500. Probably the rebound in the price of digital assets will fuel the hopes of investors who the worst year of the cryptocurrencies could be over. The real cause of the rally has yet to be known, although the recent fall in prices that also hit the equity markets has left investors eagerly anticipating a fund to the market.
$ 700 million in losses during the year
The rally comes at a time when investors reflect on a torrid year for the main digital asset, after seeing a whopping 700 billion dollars canceled from the total value of the largest cryptocurrencies including XRP and Ether. Today it makes a year that the price of Bitcoin (BTC) reached a peak of $ 19,000. Bitcoin (BTC) has collapsed throughout the year as investors fear that global regulators will soon repress digital currencies, which can potentially hamper long-awaited adoption and long-term institutional investments.
This year saw Bitcoin (BTC) fall by 83% since it recorded its all-time high one year ago. While Ripple (XRP), the second most important digital resource and Ethereum (ETH) recorded similar losses during the year. The total value of cryptocurrencies today added around $ 13 billion, rising to $ 115 billion.
The Bitcoin price has also added around $ 300 in the last 24 hours. Bitcoin (BTC) and many other top digital tokens sunk in November after a civil war between the developers and the miners of Bitcoin Cash (BCH) caused the panic that eventually forced investors to free themselves from their positions, inevitably eliminating billions from the capitalisations cryptocurrency market.
The event of Bitcoin will surely bring relief to the faithful crypto-faithful and bitcoin, who have tried to maintain an optimistic attitude in the face of the collapse of the market. We can only hope that the worst is over. For now, investors can settle for this BTC news.
Crypto investors get used to seeing red on the trading markets
The commercial bosses of Bitcoin have now come out full force in recent days in an attempt to reassure the encrypted market and investors that the worst could be over soon. Stephen Pair, the CEO of BitPay, the Bitcoin Payments Administrator, predicted that Bitcoin and cryptocurrencies will be widely used in three to five years. In other news, the CEO of Circle, the fintech startup in Boston also said that both BTC and Ether, the third virtual currency for capitalization after the ripple XRP, appear to have oversold conditions after the decline prices that have hit the market recently.
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