Impressive Recovery Seen in Crypto Markets

By
eToro
December 11, 2017
After a roller coaster of a weekend, in which many cryptocurrencies registered significant losses, the crypto market made a near-full recovery, with many currencies registering double digit gains. Overall, the crypto market is continuing its bull run, crossing the $400 billion mark, with the total market cap for all cryptocurrencies reaching above $440 billion.

CBOE Bitcoin futures hit markets today

BTC prices took a nosedive over the weekend, falling from a record high of more than $16,800 to as low as below $13,000. However, Bitcoin recovered since, climbing back more than 20% and trading above $16,000 this morning. The recent price surge could be attributed in part to the Bitcoin futures market, as CBOE starts offering its futures contracts today.

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Litecoin sees price surge

All of the top 20 cryptocurrencies registered gains in the past 24 hours, and several posted double-digit gains. Bitcoin, Bitcoin Gold and NEM all climbed above 20% and Litecoin showed gains of more than 16%, closing in on its all-time high of $162. Ethereum Classic also climbed more than 10%.

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