Bitcoin price has increased with more than 4 percent overnight, after having lost almost as much the day before. The entire cryptocurrency market followed, recovering the losses and gaining $2 billion in the process.
Bitcoin Price Marks a Quick Recovery
My Bitcoin News reported on January 13th that Bitcoin (BTC) has marked a steep sudden decrease of about 3 percent.
Just a day later, the world’s largest cryptocurrency managed to recover, recording an increase of more than 4 percent. At the time of writing this, Bitcoin trades at $3,707.75 according to data from CoinMarketCap.
Cryptocurrency Market Recovers, TRX to Lead the March
After having dropped to a low of about $117 billion, the entire cryptocurrency market has also managed to recover. Currently standing at more than $123 billion, it managed to erase the losses and add some $2 billion.
All of the top 20 cryptocurrencies are trading in the green besides stablecoins Tether (USDT) and USD Coin (USDC).
Most notably, the biggest increase was recorded by Tron (TRX). According to Coin360, TRX managed to spike with more than 21% in the last 24 hours.
Ethereum (ETH) also saw a substantial increase. The cryptocurrency is currently sitting at $129.35, which is 9 percent more than yesterday’s price.
What do you think of the sudden recovery of the cryptocurrency market? Are we in for another leg down? Do share your thoughts in the comments below!
Images credit to Coin360; CoinMarketCap; Unsplash