Bitcoin will Just have a Comeback?

Cryptocurrency dip buyers have returned after Bitcoin crumbled through key support and hit a low of less than $10,000 overnight.

But the gains seen earlier this morning have solidified in Asian trade, and Bitcoin has now bounced by almost 20% today off its overnight low.

And the buying has extended to all the major alt-coins, following the sector-wide selloff which over the previous 48 hours saw heavy falls across the board.

The selling was attributed to a number of factors — ranging from a regulatory crackdown in Asia, giving rise to lower trading volumes, to simply just a long-overdue market correction.

But for the time being the panic has subsided. As usual, Bitcoin prices vary significantly between different exchanges but a short time ago, Bitcoin was sitting comfortably above $11,000 on the US-based Bitfinex exchange:

Among other major cryptos, the Ripple XRP token is easily the best performer having gained more than 30% today.

At a value of $1.43, Ripple has now recouped its losses from the previous session, although it remains well off its recent highs of above $2.

According to the website coinmarketcap.com, most other large cryptos are up by between 5-20% in Asian trade.

Even Dogecoin – the cryptocurrency based on an internet dog meme — has climbed by around 30%.

And investors in Dentacoin — a cryptocurrency designed for use by the dental industry using the Ethereum blockchain — would be breathing a sigh of relief. It just doubled in value today:

Source: businessinsider.com