Despite the general negative background that has been around the crypto currency since the beginning of the year, and increased due to the recent drop in bitcoin to around $ 6,000, the market recovery continues and today bitkoin managed to return to the level above 10,000 dollars, which he left on January 31. Now it remains to observe whether it will be possible to consolidate there, or this rise will only be another correction for the bearish trend.
If you look at the graph of the main crypto currency for the last month, you can see that the level of 6000 dollars became an insurmountable barrier, as the price rested on this level and rebounded while maintaining high volumes of trade. In the language of technical analysis, this is called the support level, where the main buyers are likely to be concentrated.
In addition, the general news background began to change, which also contributed to strengthening the price of bitcoin. Of the whole mass of news over the past few weeks, it is especially worth noting the changed tone of South Korea from "all prohibit" to "try to regulate", as well as the growth of reports of large infusions into the mining industry. In addition, about the bitcoin and crypto-currencies for the past few weeks, many politicians have responded well (discussing the future of the crypto-currency at the forthcoming G20 summit was proposed by France and Germany) and financiers. There are assumptions that the rate of crypto-currency at the end of January, including, was badly affected by the fall of the stock market, which is now also recovering.
After bitcoin, other crypto currencies are tightened, although they are inferior in terms of growth rates. The total capitalization of the crypto-currency market increased to 480 billion dollars, which is a two-week high. The share of bitcoin is almost 36%.