Is The Crypto Currency Market Recovering?


It appears that Crypto currencies are recovering on Tuesday as confidence seems to have returned. This was evident when a number of digital currencies are trading in the positive territory led by Bitcoin. However, there are also other virtual currencies that are trading in the negative zone.

For instance, Bitcoin (BTC) is trading over 6 percent at above $11,600, which is near the highest as far as February is concerned. Similarly, Lifecoin is trading at 9.75 percent gain at $246 whereas Ethereum Classic and VeChain prices jumped 8.90 percent and 16.50 percent respectively.

Interestingly, Bitcoin price dropped below $10,000 mark to trade below $6,000 from $20,000 seen in December. The current sentiments appear to have come from an unknown investor, who acquired $344 million worth of the digital currency during the period February 9 and 12. This triggered a buying spree in Bitcoin leading to the other virtual currencies.

Another digital currency, Veritaseum price climbed 7.07 percent to trade at $296.77 while thinly priced ReddCoin price jumped 34.89 percent. One of the biggest increase in terms of percentage were seen in Vertcoin and Raiden Network Token jumping 20.38 percent and 22.49 percent respectively.

On the negative zone, ZClassic recorded 8.92 percent drop in prices to $178.91 while Waltonchain fell 5.22 percent. Similarly, DigixDAO price dropped 5.59 percent and Byteball Bytes witnessed a fall of 7.86 percent to $575.50.

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