The cryptocurrency market has been making history for all the wrong reasons as of late, most notably by recently surpassing the plunge of the infamous Dot-Com bubble in the early 2000's.
With that said, cryptocurrencies tend to make recoveries when all hope is seemingly lost, and today's price action of the world's second largest cryptocurrency, ether and many others is no exception.
At press time, several of the top 10 cryptocurrencies by market capitalization are reporting 24-hour gains above 10 percent, including monero (XMR), litecoin (LTC), and EOS. Ether (ETH) is leading the pack while boasting a 17 percent price increase. Further, the total market cap has edged back up over $200 billion, after falling lower earlier this week.
Still, it's too early to call any type of long-term bullish reversal in the market, but there are three encouraging signs cryptocurrencies may see much-needed relief at least in the short term.
1) Ether Recovery
Until today, the price of ETH/USD had fallen more than 40 percent since September 5 and 85 percent from its all-time high north of $1,400 set last December.
Today though, tells a different story. Since the low of $167.32 yesterday, price has recovered more than 20 percent reaching a 24-high of $207.67, according to data form the Bitfinex Exchange.
See more:
https://www.coindesk.com/back-over-200-billion-3-reasons-crypto-prices-are-heading-higher/