After many weeks of massive crashdown in the crypto market, the market seems to observing an uncertain recovery few hours back.
The price of Bitcoin managed to reach its lowest level of $5831this year, it is a good thing the price is bouncing back to normal as predicted by many analysts in the game.
Currently trading at $6259 shows that it is 1:55% higher over the 24-hour period. Yesterday, the price went as low as $5831 marking its lowest price for the year 2018 and a price point it has not hit since October. The bounce back in price occurred between 2 and 5 utc,yesterday saw the coin recover back to around $6200.
A lot of analysts believed that the release of 250 million tether tokens had a positive knock-on effects on the price performance today. The release was said to have started at 3pm UTC, and Bitcoin used about 45 minutes interval to rise 2.2% from $6166-$6305. This does not apply to only to Bitcoin but also to other altcoin and bigger coins or tokens, inshort, the market scene is all green today and that is a plus for the crypto world