Crypto Market regains $200 Billion as Bitcoin price goes back up again. Following the general crash in asset prices in the crypto market on Sunday, Bitcoin and other Cryptocurrencies have bounced back quickly.
On April 18, 2021, the entire market experienced a surprise dump. Some reports speculate that the massive dump in the price of all digital assets was as a result of the hashrate correction caused by the blackout in Xinjiang. The blackout led to a decline in BTC hashrate and this may have led to the tumbling in value of the highly priced asset.
The market crash made the leading crypto asset reach a new low in three weeks. The price of Bitcoin fell from over $60,000 to around $51,000. As expected, Altcoins followed suit and also dumped massively.
As of today, BTC has regained relatively quickly. A sum of $200 Billion has now been added to the market cap making the entire crypto market currently boast of a $2.12 trillion market capitalization.
The Rebound of Bitcoin and Altcoins
Bitcoin is not the only cryptocurrency that has recovered from the dip. Most Altcoins have followed suit. XRP is up by 8.86% when compared to yesterday’s price. LINK is up by 12.6% and the famous DOGE is up by 19.34%.
The greatest gains however are not from the top ten coins. For example, ACOIN has gained 77.72% in the past 24 hours and DENT is up by 61.48%.