As if the above wasn’t problematic enough, regulatory interference is increasing. Many countries have begun to scrutinize crypto-currencies, seeing a number of “dangers“to economic stability, and of course, the fact that they could undermine the traditional economic structure.
Clearly, things haven’t been entirely straightforward for crypto-currencies in recent months, but recently Ethereum, which is the second largest crypto-currency on the market, has started an interesting rise. It is a modest rise, however, and at least at this point cannot mean that a bull market is on the horizon. This is certainly a good sign.
Ethereum shows bullish signs
After the widespread fall in the value of bitcoin, things have become a bit more difficult for the market, but it seems that Ethereum is managing to overcome these problems, as it has shown bullish signs on several occasions. While we can’t say for sure that this is a trend that will continue, it is a positive sign for now.
The start of the fluctuations occurred earlier this week. At that time, Ethereum’s gains were larger than what it had experienced in previous weeks and months. This came as a positive surprise to investors and may encourage them to make further investments.
But that’s not all, because somehow Ethereum boosted bitcoin, or the overall market started to have a positive movement. Recall that on Saturday, bitcoin started with a significant gain, in addition, a good portion of altcoins recorded green numbers, so the movement in the market is a fact.
In the case of bitcoin, it has managed to get close to $25,000. In fact, at the time of this publication, the price of the leading crypto-currency is $24,533.
And if we look at the Ethereum data, we realize that the signs of increase are quite strong. In the last 24 hours, according to records, this crypto-currency has risen by 5.1% and at the time of this publication, its price is $1986. And although it has decreased its value a little, from the maximum of $2,020, it still remains at a relatively favorable level, as its price resembles that of the last days of May this year.
Will the market recover?
It’s a little difficult to say with certainty that the market will rally with such a modest increase, but that doesn’t mean it’s impossible. In the past, bull market entries have started with weak rallies that then extend and allow the market to recover.
While we can’t be sure what will happen, we’ll go by the facts, because overall, market capitalization has risen a little over $50 billion in just 24 hours. That brings the market cap to nearly $1.2 trillion, and some crypto-currencies continue to see modest increases.
While this increase doesn’t mean that more will be recorded soon, it’s inevitable to be somewhat optimistic that some crypto-currencies will see further growth. If this happens, it is likely that by the end of the year, bitcoin and the market in general will be able to regain some of the value it lost in the first half of the year.
At the moment, there is no further information about the forecasts of market analysts, but the trend should be rather positive. So far, it is also a bit early to talk about new highs, so what is expected is that soon the reversal will become more significant and the price of some crypto-currencies will increase. In the meantime, there is renewed optimism in the market and the future is quite bright.