The overall market cap has recovered to a degree since the sub $3,000 crash. At over $163 billion, there is still more room for growth. In case we do actually end up reaching, and blasting past $5,000, a $200 billion market cap may not end up being that far-fetched within the next few weeks. In the meantime, ethereum has managed to creep back above $300, with Zcash not too far behind as well. Bitcoin cash has been neighboring $450, with some minor price fluctuations attracting the interest of day-traders.

Get Into Bitcoin Trading Today

China’s prohibition has caused a massive spike in traffic on local p2p trading platforms. The ban on ICOs coupled with the exchange shutdowns is forcing users to adapt. Localbitcoins has apparently, started to read a good chunk of the rewards from all of the recent Chinese regulation, that has attracted a barrage of negative media coverage.

Korea is not too far behind in this regard, with regulatory agencies conducting on-site inspections of all cryptocurrency service providers, including most local bitcoin exchanges.

Michael Novogratz, head of Galaxy Investment Partners and former macro hedge fund manager at Fortress Investment, was interviewed in a Bloomberg article, touting and talking up the pros and cons of bitcoin trading. Incidentally, there was mention of a new $500 million investment fund that will be primarily dealing with digital cryptocurrency assets such as bitcoin and ethereum. A second article from the same media giant also delved into the correlation between copper and bitcoin, indicating the Chinese clampdown as one of the main reasons for the new interdependence.

Mario Draghi, president of the European Central Bank, has gone on record, citing that conventional institutions and monetary mechanisms are not able to effectively regulate cryptocurrencies. Similar criticism was directed toward the Estonian government more than a month ago, specifically in regards to their new e-residency program and supposed ICO proclamation. However, news relating to the “estacoin” ended up being inaccurate and has been denied as factual by numerous media outlets such as the Nordic business insider and Cryptocoinews.

The history of financial markets is littered with asset price bubbles. Is the virtual currency bitcoin next? https://t.co/mP4FlfuoDO pic.twitter.com/ho9Vme11X6 — Financial Times (@FT) September 26, 2017

Bitcoin began trading from the $3,514 weekly low on September 22 (GMT 16:00). An increase in volume pushed the price higher to $3,811.03, during the next day (GMT 13:00), before the price bottomed out one last time at $3,614 on September 24 (GMT 08:00). The remainder of the week saw the continuation of this ascending trend, and the price of bitcoin was slightly above $4,200 at the time of writing.

This post was originally published by EarnForex

The Best and Safest Way to Buy and Sell Bitcoins

For those who are looking to take advantage of Bitcoin and other cryptocurrencies price fluctuations, Some brokers provide traders with instant access to trade Bitcoin, Bitcoin Cash, Ethereum and other cryptocurrencies. The process is fast and easy with convenient and advanced trading platform (desktop and mobile), low spreads and instant execution. Click here for more details.