After reaching a low of $ 6,094 on Tuesday, February 6, Bitcoin rebounded substantially on Wednesday, Feb. 7, pushing back more than $ 8,000, and pulling 100 higher altcoins with him.

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Source of Image: coin360.io

The price of Bitcoin has gained about 24 percent within 24 hours to the press, trading at an average of $ 8,280, according to figures from CoinMarketCap

Altcoins also show robust growth, with the first 100 coins in the green, gaining as much as 97 percent in the last 24 hours, rose by 55 and 46 percent respectively, while Bitcoin Cash (BCH) and Ethereum (ETH) gained up to 33% when going to press.

The total market capitalization of all cryptocurrencies is $ 388 billion, with gains of over $ 100 billion since Tuesday's low of $ 276.8 billion ars.

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In addition to general market movement, the rebound can also be attributed to the result of the hearing on cryptocurrency and Blockchain held yesterday, February 6, by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC ). During the hearing, CFTC President J. Christopher Giancarlo expressed his optimism about Bitcoin regarding Blockchain technology or Distributed Ledger Technology (DLT): "It's n & # 39; There was no Bitcoin, there would be no DLT. "

Cointelegraph correspondent Joseph Young tweeted Feb. 7 about the Crypto Market's positive response to the US cryptocurrency audience:

The Twitter account CFTC Chairman Chris Giancarlo has increased by 7x since yesterday's cryptocurrency. Welcome to crypto Twitter @giancarloCFTC. Joseph Young (@iamjosephyoung) February 7, 2018

Yesterday, February 6, Litecoin founder Charlie Lee tweeted about the global volatility of crypto markets and the benefits of staying bullish in the long run, noting "Those who can withstand such a fall without flinching are those with lambos afterwards.The others pay for these lambos."

Now you see how unstable this market is. I did not expect LTC to reach $ 20. I said that I saw a LOT of 90% drops of ATH in BTC and LTC. Those who can bear such a fall without flinching are those with lambos thereafter. The others pay for these lambos. https://t.co/ozcR11N68o – Charlie Lee [LTC] (@SatoshiLite) February 6, 2018

Ran Neuner, the animator of Cryptotrader CNBC, maintained his bullish stance in a tweet comme The market was up slightly yesterday, February 6th.