Bitcoin already $2K up from Tuesday’s low

Bitcoin has been trading down since the beginning of 2018. Investors have constantly been worried about the lows cryptocurrency has been facing in the market.

Bitcoin recently progressed to a value of $2000 approximately, on Tuesday after its intraday trough. This high was reached as a process of recovery against the low since last three months and made up for all the past losses since January 2018.

Bitcoin was dealing at a value of $7,900 mark after it hit a trough of $5,947 in less than 12 hours. Bitcoin, the leading cryptocurrency worldwide as per market cap, set off below $7,000 on that day but then later that day it increased to a value of $7,763 as per the reports by Coindesk BPIBitcoin Price Index. The currency then fell to a low value of $6,000 on Monday.

Bitcoin reached a mark of over $19,000 in the month of December and it needs to catch up again for almost a value of $10,000 after it lost its major value after mid-January.  It fell from a mark of $17,000 after midJanuary.

However, bitcoins recent rise revealed the overall situation of the market cap after it flung more than $100 billion in less than 10 hours. Moreover, the top 100 cryptocurrencies also saw a significant rise in their value and were celebrating the Tuesday green after encountering continuous blows since last three months, according to CoinMarketCap.

Ethereum rose to a value of $781 and Ripple XRP saw a rise to a value of $0.76 following Bitcoins rise in the market. Ether dropped below the value of $1000 in 1st February first.

Bitcoin is also maintaining the values on the same level after it passed the mark of $7,000 first during midNovemberSecurities Enforcement Commission chair Jay Clayton and Commodity Futures Trading Commission chair J. Christopher Giancarlo gave a statement, earlier on Tuesday that their agencies are taking endeavors towards rendering strict regulations regarding crypto trading in the cryptoworld and are keeping a close watch on the cryptosphere regarding the same.