The cryptocurrency market bounced back on Friday after facing one of the worst bloodbaths a day earlier, with market capitalisation gaining 8.8 percent to reach $1.37 trillion.
As of 1200 hours GMT, the largest cryptocurrency Bitcoin’s (BTC) price surged 7.7 percent to $30,573. With this increase in price, the market capitalisation of the biggest crypto has reached $582 billion. Bitcoin has shed 16.5 percent of its value over the last week. Bitcoin hit a 16-month low of around $25,400 on Thursday. It remains a long way below week-ago levels of around $40,000 and, unless there is a rebound in weekend trade, is headed for a record seventh consecutive weekly loss.—TLTP
