- The cryptocurrency market remains stable amidst oppositions
- Cryptocurrency market stabilizes around $350 Billion and Bitcoin around $9,000
Crypto World: The cryptocurrency market has maintained stability around the $350 billion region, while other digital currencies such as Bitcoin have not recorded any major loss or gain over the past 48hrs.
Through February to early March, every digital currency experienced severe upswings and price drops, rising and dropping by about 20 to 30 percent within a 24-hour period. For instance, Bitcoin dropped from about $14,000 to $6,000, rise to $11,600, fell again to $7,000, and recovered to about $9,000 presently.
Following this intense volatility, the cryptocurrency market has maintained stability, as the market did not experience any major movement for straight two days, and most cryptocurrencies have maintained their price from March 20. However, ICON (ICX) and Storm rose in value by over 40 percent due to exchange listings.
Crypto enthusiasts and investors have also begun to express enthusiasm and optimism towards the cryptocurrency market after the initial recovery from $6,000. Finance experts including Jack Dorsey – Twitter CEO and Square app co-founder, and billionaire investors Tim Draper and Alan Howard expressed a similar sentiment in saying that digital currencies like Bitcoin could become the global reserve currency in few years. Jack Dorsey stated:
“The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin.”
Howard, who began bitcoin investment last year, revealed that he will increase his holdings in digital currencies in 2018, because he strongly believes that the cryptocurrency market will experience a full recovery throughout this year.
ICON, also called the South Korean Ethereum has recorded a 60 percent gain on March 21, and another 40 percent increase on March 22.
Thursday 21st Feb., South Korea’s largest crypto exchange Bithumb listed ICON, supporting its airdrop campaign. Not long after the listing of ICON on Bithumb, the price of ICX rose by over 60 percent, as massive volumes from the local market were allocated to the ICON exchange market.
Earlier today too, the second biggest crypto trading platform in South Korea, Upbit, listed ICX.
Overall, the cryptocurrency market is now in a better position than it was earlier this month, in terms of media coverage, demand, volume, and valuation.
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