Crypto Markets Bounce Back To Red, Volatility Still High

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The cryptocurrency markets have bounced back to the red with Bitcoin dipping below $9,000 for a second time in a week.

March 11: following a day of slight recovery, cryptocurrency market bounced back to the red, with the majority of assets listed on Coin360 having lost their value.

Chart

Bitcoin (BTC) has dropped to as low as $8,607 during the day. By press time it has recovered slightly, trading at around $9,224 with a 2.43% loss of value over the past 24 hours.

BTC

The total market capitalization of all cryptocurrencies has declined from yesterday’s high of around $390 bln to about $379 bln, experiencing an intraday low of $351 bln.

Ethereum (ETH) has lost 2.47% of its value in 24 hours and is trading at $717 at press time.

ETH

Earlier this week, on March 6, the South Korean government banned its officials from holding and trading cryptocurrency.

On March 8, the Japanese Financial Services Agency (FSA) has issued ‘Punishment Notices’ for 7 cryptocurrency exchanges and suspended two more after carrying out the inspections prompted by January’s Coincheck hack.

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Author: Helen Partz

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