The crypto currency market makes a reversal: the price of bitcoin is again higher than 8 thousand dollars, while the top 100 crypto currency shows growth
After Tuesday, February 6, the price of bitcoin reached a record level of 6.094 dollars, on Wednesday it began the recovery and exceeded the level of 8000 dollars. Top 100 altcoins also show growth.
According to CoinMarketCap, the price of bitcoin in the last 24 hours increased by 24 percent. At the time of publication of the article, the average price for the number one cryptocurrency is 8,280 dollars.
Altcoins also show steady growth. Among the top 10 coins, NEO and NEM grew by 55 and 46 percent, respectively, while Bitcoin Cash (BCH) and Ethereum (ETH) rose 33 percent.
The total market capitalization of all crypto-currencies is $388 billion, an increase of almost 100 billion from a minimum of $276.8 billion recorded on Tuesday.
In addition to technical factors, a positive impact on the market was provided by the hearings on cryptocurrency and blockchain technology that took place yesterday, February 6 in the US. The hearings were conducted by the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). During the hearing, CFTC Chairman J. Christopher Giancarlo expressed optimism about bitcoin, as well as the technology that underlies it (DLT technology):
If not bitcoin, DLT was not.
Cointelegraph correspondent Joseph Young said this morning that the number of Twitter followers from the head of the Commodity Futures Trading Commission (CFTC) increased sevenfold, after this statement:
CFTC Chairman Chris Giancarlo’s Twitter following increased by 7x since yesterday’s cryptocurrency hearing.
— Joseph Young (@iamjosephyoung) 7 лютого 2018 р.
Yesterday, on February 6, Litecoin founder Charlie Lee wrote on Twitter about the overall volatility of the crypto-currency market, and also noted that “those who can withstand such a fall without frowning, ultimately buy themselves Lamborghinis, and the rest are exactly those, who will pay for these Lamborghini:
Now you see how volatile this market is. I wasn't predicting that LTC will get to $20. I was saying that I've seen MANY 90% drops from ATH in BTC and LTC. Those that can withstand such a drop without flinching are the ones with lambos eventually. The others pay for these lambos. https://t.co/ozcR11N68o
— Charlie Lee [LTC] (@SatoshiLite) 6 лютого 2018 р.