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In the last 48 hours, after demonstrating a very volatile week, the cryptocurrency market is remained stable in the region of $ 350 billion, as major crypto-currencies such as bitcoin did not record significant gains or losses.
Throughout the months of February and March, each cryptocurrency on the world market experienced extreme price rises and falls, increasing and decreasing by 20 to 30% over a 24-hour period. . Bitcoin, for example, went from $ 14,000 to $ 6,000, was increased to $ 11,600, was reduced to $ 7,000 and recovered to $ 9,000.
Following this period of intense volatility, the cryptocurrency market has found some stability, given that the market has not made any major moves for two consecutive days. Some chips like ICON (ICX) and Storm jumped more than 40% because of stock quotes, but apart from the two cryptocurrencies, most digital currencies supported their price as of March 20th.
Investors also began to express a bit of optimism and enthusiasm for the market after the initial $ 6,000 buyback. Experts in the tech and financial sectors, including Twitter CEO Jack Dorsey and billionaire investors Tim Draper and Alan Howard, shared the same sentiment that crypto-currencies like bitcoin could become the currency of the day. World Reserve
Twitter CEO Jack Dorsey, who also manages payments Square app, said:
“The world will finally have a single currency, the internet will have a single currency.I personally believe it will be bitcoin.”
Howard, who invested in bitcoin last year, revealed that he will increase his cryptocurrency holdings in 2018 because he firmly believes that the market will experience a complete recovery throughout this year.
“The billionaire hedge fund Alan Howard made considerable personal investments in cryptocurrency last year and plans to invest more money in digital assets and blockchain technology behind them, according to people familiar with it “ a Bloomberg report read.
ICON, also known as the Ethereum of South Korea, recorded a 60% gain on March 21st and a further 40% price increase on March 22nd.
Yesterday, South Korea’s largest cryptocurrency exchange, Bithumb, listed ICON, supporting its dropping campaign. Almost immediately after the introduction of ICON on Bithumb, the price of ICX jumped by more than 60%, with massive volumes coming from the local market being allocated to the ICON exchange market.
Earlier today, the second largest cryptocurrency trading platform in South Korea, Upbit, was listed as ICX. As a cryptocurrency exchange only in the local market, Upbit is popular among professional cryptocurrency traders and casual investors looking to invest in cryptocurrencies that are not listed on cryptocurrency-to-fiat exchanges like Bithumb and Korbit.
Overall, the cryptocurrency market is in a better position than at the beginning of the month, in terms of valuation, volume, demand and media coverage. In regions such as Japan and South Korea, premiums have resurfaced, with South Korea posting a 4.6% premium for bitcoin.
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