Markets Update

Markets Update: Bull Trap or Reversal? Traders Question the Recent Crypto Spike

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Three days ago the crypto-economy suffered deep losses, with digital asset prices at their lowest across the board since September 2017. But on Wednesday the digital asset ecosystem started showing a slight recovery, as the entire market capitalization of all 2000+ coins gained $14 billion.

Cryptocurrency Markets Show Slight Recovery

Cryptocurrency markets are doing much better today than they were three days ago, when we published our last markets update. For instance, most of the top 10 digital currencies are up between 12-18% over the last 24 hours. Bitcoin SV (BSV) has only increased about 0.44% today, but this is after spiking more than 90% over the last seven days. Bitcoin core (BTC) is hovering around $4,268, after reaching a 24-hour high of $4,332. BTC is up 15.2% in the last 24 hours but is still down 4.3% for the week.
The second-largest market valuation, held by ripple (XRP), is up 13.7%, with each XRP trading for $0.39. Ethereum (ETH) has seen a 16% increase this Wednesday and ETH is being swapped for $124 per coin. Stellar (XLM) has captured the fifth spot once again and each coin is trading for $0.16. Stellar is up more than 17.3% over the past 24 hours, but it lost more than 17% last week.

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