A much needed green day for the world of cryptocurrency
It is safe to say that any crypto investor would probably have preferred the last couple of months to have played out a little different than they did. We all that Bitcoin fell down to around $6000 after touching $20000 back in December. Bitcoin did recover some of its losses when it went back over $11000 but quickly fell back down and stabilized at around $6500.
You can quickly feel like the market will never change once it has been at a certain point for a long time. This kind of mentality definitely spread among the cryptocurrency community as many members starting doubting their investment with many selling what they were holding.
Today, however, Bitcoin had its best day in terms of percent increase since December. Bitcoin had been sitting at around $6700-6900 for a couple of days, but suddenly shot up more than 12% in a matter of 30 minutes, breaking through $8000 on some exchanges.
Source: https://coinmarketcap.com/currencies/bitcoin/#charts
The entire crypto market’s daily volume is at the time of writing $24,150,000,000 more than double compared to what it was just 5 days ago. A very positive sign as more volume usually equates to an upwards push in price, unless some specific bad news is creating a lot of selling pressure.