Crypto Market Repulses Back after The Fall

The summer crypto rollercoaster continues, with the market now experiencing gains after sustaining major losses yesterday.

On August 8, after the total market capitalization had shrunk to $219 billion – its lowest level since mid-November 2017. In today’s upward bounce, virtually all of the major cryptocurrencies have posted gains.

cryptocurrency Crypto Market Repulses Back after The Fall Screenshot 2018 08 10 19
Cryptocurrency Market

Bitcoin (BTC) is trading at $6,531 at press time, up around 3.2 percent on the day. The leading cryptocurrency shot up around $300 within the space of two hours earlier today, from $6,229 to $6,528. Having since slightly corrected downwards, the coin is nonetheless trading $330 higher at press time than its 24-hour low at $6,144. Bitcoin’s weekly losses however remain at 14 percent, with 3.5 percentage loss on the month.

Ethereum (ETH) is currently trading around $363, up around one percent on the day to press time. The altcoin’s intraday spike closely correlated with that of Bitcoin, as it jumped up from $352 to $367 within two hours. Ethereum’s losses on its weekly chart remain at around 11 percent, with monthly losses pushing 24 percent.

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