Christmas has been good to the market of crypto-currencies

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.

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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.

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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