Inhale, Exhale, Markets Turn Green
All the crypto community can start breathing again – markets turn green after being in the red zone last week. The BTC price hit $8,000 mark and it means that the currency technically recovered from the loss.
Yesterday the trading corridor for Bitcoin was relatively small – somewhere between $7,889 and $8,244, marking the lowest and the highest marks ovet the last 24 hours accordingly. At present the price of Bitcoin levels up 1.6% every day. Trades are executed at the of $8,093 mark. In spie of the fact that markets turned green full recovery is under question now. If we look a BTC weekly charts, the loss will be more than 20%. However, the monthly loss stays at the mark of around 18%.
Rusty Russel, developer of Bitcoin’s Lightning Network, issued a disclosure where he described the vulnerability, that the crew nailed in August. He pointed out that the vulnerability emerged when they opened funding channels. Mr. Russel also issued a solution for the problem.
Markets Turn Geen at Last
As far the markets turned green, other currencies gained as well. For example Ether has got 4.08% at press time. Though it also dropped to the lowest point last week along with BTC.
XRP got over 1%, so now it is trading at the level of $0.239. The third largest currency experienced almost 18% losses last week while its monthly loss is at around 6.8%.
Another currencies, gained some amount after this blood bath week are Tezos, Algorand, Chainlink, Binance Coin, Bitcoin Cash. Their increase is 6.53%, 3.56%, 4.7%, 3.7% and 3.42% accordingly. At present total capitalization of the currencies is $215.5 billion.
Not a Substitute Yet, But Monitored
According to the European Central Bank president’s note to Eva Kaili, European parliament member, the European System of Central Banks is keeping its eye and monitoring carefully and attentively the news of the crypto currency industry and its development as well, so they also noticed that the markets turned green. However it is clear that in spite of the positive approach to the crypto currencies, Draghi does not see them as substitutes to the casual currencies.