RATE Group | Bitcoin Finds Momentum at $7,400, Traders Show Big Optimism Toward Tokens
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Bitcoin Finds Momentum at $7,400, Traders Show Big Optimism Toward Tokens

05 Sep Bitcoin Finds Momentum at $7,400, Traders Show Big Optimism Toward Tokens

Posted at 00:28h in Bitcoin News by

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The crypto market is beginning to show some signs of recovery following the massive sell-off that pushed the overall cryptocurrency market cap to below $200 million.

The signs of recovery come as Bitcoin has found some relative stability above the $7,000 threshold, which is allowing some alt-coins to post slight gains.

Bitcoin Stable, Alt-Coins Higher Than Year-to-Date Lows

Bitcoin is currently sitting at just under $7,400 according to CoinMarketCap, which is nearly $2,000 higher than its three-month lows of $5,800.

In the weeks following Bitcoin hitting its year-to-date low of under $6,000, the price steadily rose to well over $8,500 before crashing back to approximately $6,000.

During this time, alt-coins saw meteoric rises, but were quickly driven to new year-to-date lows as market sentiment became overwhelmingly bearish and volume subsided.

XRP, for instance, fell from its three-month high of $0.68 to its year-to-date low of just over $0.26. ETH has also seen immense volatility,…

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