Crypto investors rejoice! At least, for now. The market is in the green at the time of writing (but knowing how volatile crypto is, who knows how long this will last). Of the many coins that are up, both Ark and Dent have been climbing in the past 24 hours.
Yesterday, China blocked all crypto-related websites, and the result was madness. The aim was to “prevent financial risk,” according to the People’s Bank of China, but ironically, the block ended up causing financial risk in the form of the markets experiencing significant selloffs. Bitcoin (available on Coinbase) was down yesterday by almost 16%, and Ethereum (available on Coinbase) dropped nearly 20%. All the top ten cryptos by market cap were down yesterday.
Today looks to be the day of recovery. Numbers are balancing themselves out, a reverse of the old ADAge what goes up must come down.
Among those coins in recovery are Ark and Dent.