The cryptocurrency markets are displaying light positive rise today, March 11, with Bitcoin (BTC) growing until $9,000 and practically all of the top 100 coins, except one, listed on CoinMarketCap in the green as of press time.
Bitcoin had climbed back above $11,500 during its intra-week high on March 5, before falling under $9000 yesterday, March 10. BTC is now trading at about $9,245, down about 1,40% over a 24 hour period to press time.
Ethereum (ETH) is still under $800, but up from its monthly low under $700 on March 9. The top altcoin is currently trading at about $740, up about 5,5% over a 24-hour period by press time. Ethereum has successively stayed under $1000 — a price point it had formerly broken in mid-January — ever since the market fall last month.
Out of the top 10 coins listed on CoinMarketCap, Bitcoin Cash (BCH) is up the most over a 24 hour period, about 9%, and trading about $1,084 by press time.
Altcoin Ripple (XRP) is up the least of the top 10 coin on CoinMarketCap, a little bit more than 1% over a 24 hour period, trading about $0,84 by press time.
Total market capitalization for all cryptocurrencies is about $378 bln by press time, on the lower end compared to its February highs over $500 bln, but up from its monthly low of $344 bln March 9.
Despite the fact that markets are seeing a slight recovery today, the overall crisis since the start of 2018 has been attributed to the $400 mln sell-off by the bankruptcy trustee of the previous crypto exchange Mt. Gox. The more recently fall this week can be credited to global regulatory news, including the US Securities and Exchange Commission (SEC) declaration that all crypto trading platforms should register with the SEC.
