After reaching a monthly minimum of $ 6,094 on February 6, Bitcoin restores its position, moving forward, and has pulled to its heights the top 100 most promising altcoyins. The price of Bitcoin has increased by 24% in the last 24 hours and currently trades at an average of $ 8447, according to CoinMarketCap.
Altcoins also show steady growth, with all the coins in the top 100 of the best in terms of capitalization today showing a move up in the last 24 hours. Of the top 10 coins, NEO and NEM increased their maximum value by 55 and 46 percent, respectively, while the growth of BCH and Ethereum was about 33%.
Probable causes of recovery
Looking at the overall recovery of the market, many associate it with the results of the hearings on crypto-currencies and Blockchain technology, held yesterday, February 6, by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). During the hearing, CFTC Chairman J. Christopher Giancarlo expressed optimism about Bitcoin and the use of technology behind crypto-currencies: “If it were not for Bitcoin, Distributed Ledger Technology was not there.”
Yesterday, on February 6, the founder of Litecoin, Charlie Lee, wrote on Twitter about the general volatility of the crypto-currency markets and the continued growth of the long-term crypto currency, noting that those who can withstand such a fall without flinching will eventually be rewarded. The rest will pay for their fears.