Cryptocurrency markets show recovery, Bitcoin Cash, Tron, IOTA and VeChain first one’s to show sign
The two days cryptocurrency market has sent Bitcoin [BTC] price to 13 months low and has also wiped $80 billion from the market. The cryptocurrency markets are still in a bearish trend, but some tokens have started showing signs of recovery.
Bitcoin Cash[BCH] becomes the first one to recover. Stellar [XLM] briefly took over Bitcoin Cash and attained the 4th spot, after Bitcoin Cash dropped below $180. But it soon recovered and is currently trading at $237, a 14% increase since the past 24 hours. Bitcoin Cash took back it’s 4th position from Stellar within a couple of hours.
Tron [TRX], IOTA and VeChain followed suit and have increased by 6%, 3%, and 9% respectively. The entire cryptocurrency market also adds $10 billion in the past 7 hours after briefly touching $142.8 billion.
Bitcoin [BTC] is also up by 2.3% since the last 24 hours. Bitcoin is currently trading at $4,661, almost $2,000 less than last 7 days.
According to Bloomberg intelligence, the hash war between Bitcoin Cash ABC and Bitcoin Cash SV is the major culprit behind the sudden market drop. The cryptocurrency market is still in a bearish trend and can fall.
Ripple [XRP] has been least affected by the cryptocurrency market crash. XRP has maintained a 30 days average of $0.45. XRP has overtaken Ethereum to become the second most valuable cryptocurrency in the world.
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