Crypto Market Gains in Strength, Recovery On the Cards?

It has not been long since we reported that the crypto winter has intensified with a further drop of Bitcoin price under $3900 levels. However, as of now, it seems that the market is gaining back some of its strength, with prices moderately increasing.

Very recently, Joseph Lubin, a notable crypto influencer through his deep ties with Ethereum, and the founder of ConsenSys as well, had commented that we have already hit CryptoBottom of 2018, and the prices can only go up.If we are to take his word for it, it would seem that slight signs of his prediction coming true have already become visible.

We had reported how the overall market capitalisation level had fallen under $130 billion but that now seems to be on the path to recovery. It is now in the range of $134.5 billion dollars. Most of the top 20 cryptocurrencies are now in the green, with minor exceptions. Interestingly, the tables seem to have turned on Bitcoin Cash, which had been doing well when the market saw a dip two days ago. Now, it is in the red, having suffered a small loss of around 1.86%. Bitcoin Cash SV, the spin off that formed as a result of the Bitcoin Cash hard fork, is also in a similar situation, having seen a 1.80% fall.

Of the top cryptocurrencies, Ethereum has shown the most encouraging increase, with a leap of about 16.01%. Bitcoin and Ripple, the top two cryptocurrencies respectively have had only moderate gains. While Bitcoin saw a 2.18% gain and managed to reach the range of $4000 ($4031 as of press time, as per information derived from Ripple (XRP), the second highest cryptocurrency according to market cap, increased by 2.85%. Clearly, Ethereum investors had the most to gain out of this market change with a substantial jump in its price. Will the market manage to sustain this lead? We can only wait and watch!