The Cryptocurrency Market Has Recovered to $258 billion, but Bitcoin Does not Gr ...

Against the background of the large cryptocurrencies fall, the trust currency shows good growth.
Over the past 24 hours, tokens including Digibyte, Elf, Polymath and 0x have recovered, bringing the cryptographic market to $258 billion.

Both Bitcoin and Ethereum have recorded a two percent increase from yesterday’s price range. But in the last hours, the prices of these cryptocurrencies began to go down again. Bitcoin went down below $7000 and is now trading at $6988, Ethereun is holding at $406.

Since July 24, when the price of Bitcoin reached $8000, the cryptocurrency market has struggled to rehabilitate and show at least some burst. Now the volume of Bitcoin has fallen below $4 billion and is at $3.7 billion, which the currency has not seen since July 21. The volume of Ethereum, around $ 1.4 billion, has fallen by 50% from $3 billion since the middle of last month.

When Bitcoin and Ethereum, the two largest crypto-assets on the world stage, fell markedly over the last two-week period, the volume of Tether (USDT), the so-called stablecoin, the rate of which is hedged by the US dollar, rose.
According to observations, when the volume of Bitcoin and Ethereum falls and Tether increases, the market tends to a fixed short-term correction. In the next 24-48 hours, provided that the volume of Bitcoin remains at the current level, the value of the coin will chart a downward movement to $6500.

While the cryptocurrency industry enjoys great news related to the announcement from the New York Stock Exchange in conjunction with Microsoft and Srarbucks, the market itself does not work very well.

Despite the positive changes in the industry, in the OTC market, it seems that traders massively sell cryptocurrency, and it takes time for the changes to affect it.