On the 25th of December, day Christmas, the price of Bitcoin has rebounded to $ 14,000 after you have recorded a major correction, which has reduced its value to $11 500.
A correction beneficial
In general, the market of crypto-currency has recovered after a correction occurred on 23 December, in only 48 hours. There are two days, each crypto-currency on the market, whether this is the Bitcoin or Singular DTV, has dropped by almost 50 %. This resulted in a loss of more than $ 100 billion of the market value of crypto-currencies. Today, the market capitalization of crypto-currencies is increased from 488 billion to $ 550 billion, showing signs of recovery for the first time in almost a week.
The holidays bring a boost to the market of crypto-currencies
The Bitcoin has registered a price increase of approximately 6 %, with a daily transaction volume of over $ 10 billion divided among the trading platforms USD-BTC and KRW-BTC such as Bitfnex, Bithumb, Binance and GDAX. OKEx, the branch of OKCoin in Hong Kong, previously the largest chinese market of crypto-currencies, before the crackdown of the chinese government, has treated approximately 2.4% of the transactions in the Bitcoin world in the last three days. Other major chinese exchanges, BTCC and Huobi, have also begun to handle large volumes of transactions.
Ethereum, Bitcoin to Cash, Cardano, Monero and Zcash have also recorded significant gains during the past 48 hours. For example, Ethereum and the Zcash, respectively, have experienced an increase of 15 % and 20 %. Analysts attribute the market recovery to periods of Christmas and New Year to come, for the gathering of families, relatives and friends, has historically resulted in a spike in the price of Bitcoin and other crypto-currencies.
Source : Cryptocoinsnews