The cryptocurrency market is showing signs of recovery from a recent slump that saw Bitcoin descend below $6,000 in July 2018 as positive investor sentiment returns to the ailing blockchain ecosystem. Bitcoin, currently ranked #1 by market cap, is up 1.26% over the past 24 hours. BTC has a market cap of $111.62B with a 24 hour volume of $3.5B.
Chart by CryptoCompare
Despite a sudden drop in cryptocurrency values subsequent to an announcement from the US SEC that the highly-anticipated Bitcoin ETF decision will be delayed until September, positive predictions from prominent Wall Street analysts and Ethereum co-founder Joseph Lubin have been reflected in a return to positive market action over the last week. Bitcoin Bounces Back While momentum within the cryptocurrency market has not yet gathered sufficient inertia to reverse the current bearish trend, Bitcoin prices