Cryptocurrency market added $16 Billion in last 24 hrs as all top coins experience gains. Top gainers included Bitcoin cash with more than 14 percent and Litecoin(LTC) with a gain close to 5 percent.
The total market cap has been raised by more than $16 Billion from $220 Billion to $237 Billion in just 24 hours.
Bitcoin(BTC) has been showing tremendous correction, rising to $7193, as when compared to the downward trend expected from it, recently after it fell towards $6900. Most experts were expecting Bitcoin to stablise around $6500 but it rebounded.
Peter Brandt, a expert exclaims, that,“In 43 years of trading, I have never seen an 82% decline end and be reversed with a 2-week bottom. I do not believe this will be the first time, but with cryptos anything is possible (though not probable).”
This reversal by Bitcoin enabled multiple tokens to make a trend reversal and provide shot term improvements on the upper side.
The most positive aspect for Bitcoin comes from the fact that it has shown a record low volatility in this month, i.e. as per Diar researchers, it’s volatility in august has been at a record 14-month low.