Markets and Prices
One year to the day since reaching its all-time high, BTC did something it hadn’t done in a long time on Dec. 17 – it posted double digit growth. Over the last 72 hours, BTC has risen by over 20 percent, helping to drag the crypto market’s capitalization up by a total of $21 billion. At the head of the charge, however, has been BCH, up more than 40 percent in a day. While too early to call it a recovery, traders are feeling cautiously optimistic.
Green Shoots and Cautious Optimism
Even the most stoic of traders would have to concede that the last few months have been grim. While two green wicks don’t signal a bull market, this week has eased some of the despair, and coaxed no shortage of Twitter traders out of hibernation. Making correct calls becomes a much easier undertaking when digital assets are rising or looking primed to break out across the board.
BTC trading volume has picked up noticeably in the last seven days.
The sense of relief that’s permeated the cryptosphere since Monday, one year to the day since BTC reached its all-time high of almost $20,000, has been palpable. No one is getting carried away at this stage, however, for to do so would be ridiculous; the top five cryptocurrencies by market cap are still down 25-52 percent each in the last 30 days. This week’s mini-rally, which has included BCH climbing from a low of $80 to $140 per coin, has only reversed recent losses.
Crypto Twitter Learns How to Laugh Again
Chainlink’s Sergey “meets” Donald Trump
As BTC passed $3,900 in trading sessions today,