The cryptocurrency market rebounded after dropping below $344 billion, losing over $100 billion within the past week. Although major cryptocurrencies like Ethereum have recorded gains over the past 24 hours, most cryptocurrencies have started to fall again.
On March 10, bitcoin, Ethereum, and other major cryptocurrencies recorded over 10 percent in daily gains, triggering enthusiasm within the global cryptocurrency market. Ethereum in particular along with tokens increased by nearly 13 percent, while bitcoin recovered back to the $9000 region.
But, in the past several hours, bitcoin, Ethereum, and other cryptocurrencies have started to decline again, as the market continued to be volatile. Bitcoin has dropped below the $9,000 mark after reaching $9,500. In fact, within the past 3 hours, bitcoin has dropped $500, despite the momentum it gained throughout the past 24 hours.
Within a span of four days, bitcoin went from $11,600 to $8,300, increased to $9,400, and declined to $8,950. Bitcoin’s extreme volatility is reflected by the market, which has followed the volatile trend of bitcoin throughout this week.