Since September 12, the most recent crash has now begun to recover. The markets have now seen a rise in their respective values. The panic that has ensued can be eased up somewhat for the time being— this is great news. With the stabilizing of the markets there is still a long way to go before they reach their previous values, but at least this is a start. The market cap recovery has instilled a small amount of hope within those who hold funds and has massively helped day-traders.
Market cap recovery leads to rises in bitcoin and ether
After the monumental drop that bitcoin witnessed it is now managing to pick itself up. From September 12 and particularly September 13 it surged up to recover some of the loss that it incurred. It reached a peak on the morning of September 14 and then by around 10.44 am it dropped and has remained relatively stable since then.
Similarly, ether for cry also witnessed a monumental drop and has also seen its value rise. Its pattern has been slightly different than bitcoin in that it has steadily moved downward on September 10, but as of September 17, it has outstripped this value.
The immediate future for traders
While a market cap recovery is huge news in such a dire bear market, it may not be significant enough to celebrate. Of course, it is still impressive when a market as volatile as cryptocurrency can find a moment of solace like this. Stable markets are somewhat boring and frustrating to long-term holders, but they are useful for day-traders and swing-traders. People who regularly buy and sell favor quiet markets as it makes predictions and evaluations much simpler. In times of volatility, figuring out what (and when) to trade can be an impossibility. This is especially true in cryptocurrency as it is too new of an asset class to solely rely upon technical analysis to aid decisions.
For the time being, short-term traders will find this market cap recovery to be a useful tool, and many are likely to trade on it swiftly as it is unknown how long it will last.
Kai is a cryptocurrency copywriter and professional trader. He can often be found investigating various cryptocurrencies, whitepapers, and blockchain technologies. Kai has been a professional writer for 5+ years, and has invested in 50+ different coins and tokens. He also currently studies Law and Philosophy at university.