[2017-06-17] Recovery Begins: Cryptocurrencies Regain Chunks from Thursday Blood

[Terraformer]

Recovery Begins: Cryptocurrencies Regain Chunks from Thursday Bloodbath

Cryptocurrencies staged a recovery yesterday following the massive fallout that occurred the day before. The top 100 cryptocurrencies all posted gains except for five, none of which have more than $130 million in market capitalization.



Cryptocurrency prices continue to follow market leader bitcoin. The post-fallout correction began early Thursday around the time Bitmain announced it said the bitcoin network was at a high risk of being split.

Bitcoin’s price recovered around from its $2,150 low yesterday to $2,521.28, but it is still almost 20% below its all-time high at $3,000.

Bitcoin’s Market Share Slips

Bitcoin’s market share fell to a historic 40% low, with Ethereum now above 30%, according to coinmarket.com. Ethereum’s recovery was stronger than bitcoin’s, moving to $372.79, gaining 13.82 points in the last 24 hours, almost fully recovering the 16.04 points in lost in the prior 24 hours. Ripple, a distant number three with a $10 billion market capitalization, posted one of the weaker recoveries, gaining only 3.78 points after losing more than 12% the previous day.

NEM, number four posted a 7.91 point gain after falling 17%. Litecoin, number five, had one of the healthier recoveries at 15.11 points, more than recovering the 7 points it had lost. Ethereum Classic, number six, gained 7.33 points after losing 13.77.

IOTA, number seven, posted the biggest 24-hour recovery at 18.77 points, but that was after suffering the biggest loss of all currencies in the previous 24-hour period, falling 36.5 points. Dash, number eight, the only other cryptocurrency with more than $1 billion market capitalization, regained 9.22% after losing 13.62%.

Total market cap today was $107.691 billion.

Read more: https://www.cryptocoinsnews.com/recovery-begins-cryptocurrencies-regain-chunks-from-thursday-bloodbath/

[iamTom123]

Since all of these digital currencies are already in the open trading system, there is no question we can see their ups and downs. However, there is also no question that their values are surging up so holding to some coins for long-term strategy can really be profitable. There is no point to panic and get bored and sell whatever you are holding at a loss. Time is of prime importance here and that is actually a great equation with investing.

[freedomno1]

The only real question after the blood was if the Flippening was about to occur if BTC went down and Eth went up that day.
But since everyone went down and up together it looks like nothing is going to change for a bit longer.

[joshy23]

It looks like the recovery period has started since the Thursday Bloodbath. So I think this so called Bloodbath is short lived and now investors are going in buying mode again because of the dip. So we may experienced a sluggish and slow start again, going to another ETH in the weeks to come.