Bitcoin is back to perform again, reaches $9000
A few days back cryptocurrency market was going through a down phase. But just after a week, that is 14th March, Bitcoin reaches to $9000, it’s the highest value if we talk about March month only. Along with the Bitcoin, other cryptocurrencies such as Ethereum and Carnado are also performing well.
Last month, Bitcoin was dropped in $ 5000 region then went up to $10,000 and after suffering a down to $7000 region now it has risen to $9000. The starting of March cannot be said a good start for cryptocurrency market. From starting off January to till date in March, Bitcoin has gone through the third bad phase. The price of Bitcoin is reduced by 70%, to $5000 region from $19000. But it has retrieved its good position in the market along with other cryptocurrencies. The March is full of turbulent phase for the crypto world.
The reason behind the extreme drop is considered as the negative media exposure that included the statement of traditional economists and bankers which were baseless regarding the price predictions and proved about to be wrong as of now.
Gained values of cryptocurrencies now will recover the losses faced by the market a few days back. But the condition of the market will be promising in the coming days cannot be guaranteed as of now. The cryptocurrency market has improved just after the announcement towards G-20 Summit. Stating that cryptocurrency does not possess a high risk to the global financial market and there is no need to set up new regulations if the current laws and regulations are being followed honestly and rigorously. To know more about this topic, Click here.
Cryptocurrency market worth has been reached to $350 billion from $280 billion within a short span of 48 hours. Bitcoin as always showed the promising results among other cryptocurrencies.
According to Bithumb, the largest South Korean cryptocurrency exchange, along with Bitcoin, ICON cryptocurrency has shown amazing growth in terms of value as well as volume. Ethereum has also risen by 9% from the previous value. Also, other cryptocurrencies named Litecoin Cardano, Nano, Zcash, Aion and OmiseGo has performed well in terms of their worth.
As per the previous trends, the market can expect new investors when the cryptocurrency gets recovered within the range of 5 to 10%. So, overall the good time has started for cryptocurrency market.
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