In last 24 hours, the Bitcoin price falls down and then after an hour, the price has recovered from $6,800 to $7,000, as by pressure in the higher region of $6,000 prevented a further fall to mid-$6,000.
As Bitcoin price rebounded and a large drop to $6,500, most tokens and small market cap cryptocurrencies recovered, pushing the valuation of the cryptocurrency market to $227 billion.
Walton Chain experienced a major spike in value primarily due to the listing of WTC by Bithumb, the second largest cryptocurrency exchange in South Korea.
Whereas, the many creators are saying many things about it like the Ethereum creator Vitalik Buterin emphasized that IoT networks require hundreds of thousands of transactions per second. He said:
“Uber does 12 rides per second, PayPal several hundred, Visa several thousand, major stock exchanges tens of thousands, and in IoT, you’re talking hundreds of thousands per second.”
The market is manipulative as well as time changing every 4th hour the market change and gives up the new price.
The worst part of the cryptocurrency market correction seems to have come to an end and if major cryptocurrencies can continue to low volatility and stable momentum throughout the weeks to come, it is possible for Bitcoin to eye major resistance levels in the $8,000 to $9,000 region.