This Sunday, March 11, the crypto-markets found colors after their total "Market Cap" fell back slightly above the $ 350 billion mark.
The price of Bitcoin was back above the 9,600 dollars , while that of the Ether was approximately $ 730 . The Ripple traded at about $ 0.835, far from its record high at $ 3.82, recorded on January 4.
Finally, trade volumes associated with the BTC remained relatively low at just over $ 6 billion over the last 24 hours.
Crypto Rand , one of the greatest figures of "Crypto-Twitter", spoke this afternoon about the " Misery Index " of Bitcoin. He believes that its developments reflect the existence of a buying opportunity for investors, showing that over the last six years, the first cryptocurrency has always relieved major corrections that it may have suffered.
We remember that in December 2016, its price had fallen below the 800 dollars under the pressure of sellers. Over the course of 2017, it had reached $ 4,000, before exceeding for the first time the threshold of $ 19,000 in December.
Moreover, even if some observers disagree , perhaps it should consider selling Bitcoins recovered following the bankruptcy of Mt. Gox - a sale that could partially support the fall recorded by the BTC in the last month.
We had learned this week that the judicial liquidator of the defunct platform had already sold, on exchange sites, more than 35,000 BTC for $ 362 million - and that 165,000 Bitcoins, the equivalent of nearly $ 1.6 billion, were still in his hands. What potentially put a spoke in the wheels of those who hope for a rise in the price of the BTC .
However, for the CCN site , the reduction of the pressure imposed by the sellers and the increase in demand, coupled with the current trend of the market, should allow the price of Bitcoin to soon return to the levels that were his in January.
The digital asset market is relatively stable after a heavy fall
At the same time, the capitalization of all digital assets amounted to $ 391 billion - less than half of their historical record, recorded on January 7, to more than $ 835 billion:
In a volatile period, Bitcoin may tend to outperform other crypto-currencies and tokens. Excluding Bitcoin Cash, which recorded an increase of more than 11% in the last 24 hours when this article was written, the BTC performed better against the dollar than the top 10 crypto-active counterparts. .
While some investors as Vinny Lingham , founder of the startup Civic , felt that the Ether should outperform the short term Bitcoin, much traders remained confident that new market entrants would first look to the BTC before eventually deciding to invest in other assets.
My friends the traders like to see when the market is like that.