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The Crypto Market Stabilizes After A Violent Sell-Off

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The Crypto market finally witnessed a stability on Saturday when a violent sell-off saw billions of dollars whitewashed the value of various digital coins. However, many of the cryptocurrencies still managed to reach their all-time highs. Bitcoin hit $8,997.91 this Saturday morning claims the CoinDesk data. The bitcoin price index of CoinDesk tracks the prices through Digital currency exchanges Coinbase, itBit, Bitstamp and Bitfinex.

At the same time, Ethereum reached a good high of $945.21 on Saturday while ripple traded at $0.89. Bitcoin reached a high of around 7 percent in just 24 hours, while ethereum and ripple were also significantly higher.

The revives in the prices of cryptocurrency follow a harsh sell-off on Friday witnessing over $1oo billion of value. However, the crypto market is a hit with some bad news. India’s Finance Minister, Arun Jaitley said that the country wants to ‘vanish’ the use of digital currency. The reason he stated behind this is to get rid of criminal activities and ensuring stiff regulations in the county.

Apart from this, there is a fear of tether and its capability of collapsing the bitcoin market in the crypto market these days. Keeping the small pick-up in the crypto market on Saturday aside, some virtual currencies are still not able to render the market as they were portrayed to be doing that.

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