During the correction Bitcoin's price had fallen under 10,000 $, but saw a rebound of 10 - 15 % these last few days.
Not exact matches
Bitcoin was at the forefront of the decline, although coupled with the ICO ban, the likes of Ethereum and NEO are more affected by the new legislation, and indeed ETH fell more
during the
correction than BTC.
Based on the above - described empirical study,
during the period of aggressive downside
correction between 16 December 2017 and 13 February 2018, the volatility of the equally weighted portfolio of five cryptocurrencies (
Bitcoin, Ethereum, Ripple,
Bitcoin Cash and Litecoin) was 6 % less compared to an equal amount invested in
Bitcoin, versus a decline in volatility down to 10 % over the entire period of analysis.
Bitcoin's popularity increased
during the
corrections.
Furthermore, the global market cap is currently increasing and as of press time, it stands at $ 639.42 B from around $ 500
during the December price
correction which most coins faced including
Bitcoin.
While it is debatable to what extent this sale had a meaningful effect on the
Bitcoin price
during the recent market
correction, the fact that the trustee continues to hold nearly $ 2 billion worth of cryptocurrency and is willing to sell on exchanges rather than through OTC services, further worsened the mood among investors.
The
bitcoin price dipped below $ 11,000 on Monday
during a minor market
correction that saw cryptocurrency market caps decline by a combined $ 39 billion.
The
correction forced the
bitcoin price below $ 10,000 for the first time since early December, but Thursday's rally enabled
bitcoin to regain a bit of the ground it had lost
during the downturn.