Bitcoin Restores to $8,400, Leading The Market’s 25% Rehab

Bitcoin Restores to $8,400, Leading The Market’s 25% Rehab

Finally, after a week of a bloodbath, cryptocurrencies have stepped on the path of recovery. Since skyrocketing to $828 billion on January 7, the total market cap has been seamlessly plummeting to indicators, unseen since last year autumn. Within the last seven days, the vast majority of virtual coins were sunk in red, roughly giving hope for foreseeable restoration. But February 7 changed everything.

Market’s Back on Balance

Flattered by last week’s set of unpleasant news, including tightening Chinese regulation and Bitfinex’s subpoena, the cyber money market has ultimately started restoring.

Within the past 24 hours, the total crypto market cap has soared by 25%, reaching the rate of $390.7 billion, according to Coinmarketcap.com. Just a day before, on February 6, this indicator was at $276.8 – the lowest rate which the whole cyber assets market saw since late November 2017.


Although it is a bullish trend, the rate is still quite far from last week’s Wednesday $519 billion. Moreover, today’s total cap is 53% farther from the January’s pick.

Anyway, at the time of writing, all the cryptos presented in Coinmartketcap’s 100-list, are colored green, gaining back 30-50% of their value, apart from several exceptions. For instance, altcoins ICON and Nano are showing a 60% growth, whereas Ethos and FunFair are displaying incredible soaring by 70%.


The top-10 digital coins are behaving less extraordinarily, demonstrating preferably 15-27% growth, except for IOTA (33% up) and NEO (43% up).

NEM, which suffered a devastating cyber-attack on January 26 and lost around $530 million of XEM, is showing all-embracing growth by 25%.

Bitcoin Ahead?

Moving forward step-by-step, the king of all cyber coins – bitcoin – is regaining its value as well. On February 7, it has increased by nearly 24% in price, being traded at $8,434 as of writing. It is a promising result as just yesterday BTC dropped below $6,000, losing 65% of its value since the beginning of 2018.


According to Coindesk, February 7’s high so far has been $8,464, whereas the low has been $7,207. At the same time, bitcoin’s “little brother” ethereum is recovering slightly faster than BTC, showing a 25% growth and now is traded at $846.

Whatever the reason for the recovery is, whether it is US Senate’s more benign attitude towards control over cyber assets or anything else, it is clear that a new era in the life of cryptos has come.

A Collection Of Fresh Crypto News For Those Who Missed Out
The Major Roundup On The Latest Crypto News In The World The last month has been full of events and brought even more pressure on local...
What To Expect From A Cryptocurrency Market In 2020
Crypto market has always been a good target for speculation, shady schemes, and "bad guys". It's also very controversial, especially for financial...
Influence of Recent Cryptocurrency Boom: Does It Still Hurt?
Crypto Exchange Gate.io Agrees With Reports Showing 51% Attack On Ethereum Classic Bitcoin is a decentralized digital currency (also known as...
Cryptocurrency Exchange Security Levels
The growing interest in cryptocurrencies has led to the emergence of a wide selection of both digital money and the sites where you can exchange one...
Belarusbank Considers Setting Up Crypto Exchange
Last year March Belarus introduced a decree by which it legalized cryptos and some activities related to them. This made Belarus a frontrunner in the...
Nasdaq CEO Believes Cryptos Have Place in Future in Economy
Almost two months ago Nasdaq’s representative Joseph Christinat confirmed the rumours that in 2019 the American stock exchange might launch BTC...
Report: Leaders of South Korean Crypto Exchange Komid Face Jail After Fraud
This week the Asian crypto-market has been rich in the news. Earlier it was reported that Japan finally approved Coincheck’s official status as cyber...
Crypto-Expert Brian Kelly Says 2019 Will Bring No Approval to BTC ETF
For the past year, various ETF-projects have been failing to receive the green light from American regulators. And despite the bullish ambitions of...
Ethereum Classic 51% Attacker Reportedly Returned $100,000 to Exchange
Cyber money exchange Gate.io has informed the general public about the return of previously stolen $100,000 worth Ethereum Classic units. According...
Approved Coincheck & Scrutiny on DLT: Japan and China Move in Different Directions
Asian countries seem to go in different directions when it comes to the regulation of cryptos and blockchain. Two Asian tigers — Japan and China...