Bitcoin is like the boxer who can’t be knocked out – just when you think they’re down, they rise to fight again. And so it was today, as yesterday’s plunge yielded to today’s rise to the $9,400 level, a nearly five percent gain over the last 24 hours.
Cryptocurrency prices are creeping back up, but the rally is a quiet one to date. Today showed green arrows for all of the top 20 digital currency coins, with most making gains from five to ten percent.
Bitcoin continued its rebound, climbing to $8,600 per single coin as of mid-morning.
Bitcoin stabilized today, as investors digested the $2,000 gain of yesterday and perhaps waited to see what happens next in the volatile sector. At mid-morning, BTC was sitting at $8,200 per single coin, relatively the same level as yesterday.
The big rally was in Bitcoin Cash,
Like an ice cube in the sun, prices on virtually all cryptocurrencies continued to melt today. A brief weekend rally proved to be a dead cat bounce, and the relentless plunge continued this morning, bringing bad news, red arrows, and questions about where this all finds a floor.
The cryptocurrencies markets have lost a combined $100 million in value over the last month, and bitcoin has dropped more than half its value.
Capitulation seems to be Friday’s theme, as bitcoin dipped as low as $7,500 on at least one exchange. ETH was back under $1,000,
Day three of cryptocurrency held captive arrived Friday, as the markets continued in a very narrow trading range for the third consecutive day. Bitcoin was down a half percentage point, still sitting in the $11,000 per single coin level.
Other cryptocurrencies mimicked the process,
Bitcoin and other cryptocurrencies are back trading in a range, as everyone awaits the next big move up – or potentially, down.
At mid-morning, bitcoin sat in the mid-$11,000 range per single coin, barely budging off its Tuesday levels. Most of the other top ten in cryptocurrencies were up or down a few percentage points.
Bitcoin’s brief weekend rally was wiped out today, as investors continued to pummel cryptocurrency markets. As of mid-morning, bitcoin stood at $10,600 per single coin, down slightly more than seven percent over the last 24 hours.
Other cryptocurrencies reacted accordingly. Ethereum’s ETH was back below the magic $1,000 level,
The Black Tuesday and Wednesday crash has been followed by a strong resurgence in the cryptocurrency markets today, as the top ten coins have all posted double digit percentage gains.
Bitcoin is nearing $12,000 per single coin this morning after falling as low as the $9,000 range on Wednesday.
UPDATE: As of 2 PM PT/5 PM ET, the cryptocurrency market has begun to climb out of the ditch. Bitcoin is up to $11,375 per single coin, and most of the big board has turned green arrows, with ETH up five percent and Ripple up 20 percent.