The cryptocurrency markets halted their Thursday meltdown today. The bleeding has stopped for most coins, with some green arrows scattered throughout the top ten coins as investors snapped up bargains.
Yesterday’s price plunge, which some believe was contagion from the stock market crash in the US, with some pointing to heavy margin calls on stockholders accounting for the rush to liquidate cryptocurrency holdings in order to cover positions. Whatever the reason, the momentary panic seems to have subsided.
In early tradinng, bitcoin is essentially flat over the last 24 hours, holding at $6,200. Ether and Bitcoin Cash were down incrementally, with ether now at $192 and Bitcoin Cash at $445.
On the plus side, Litecoin, Stellar and Ripple XRP were all in green arrows, with XRP showing a hefty four percent gain. a bounce off the bottom after a 20 percent loss over the last week.
Source: Read Full Article