Crypto Market Surges By $86 Million As Bitcoin Crosses $55,500
-Significant buying pressure provided the crypto market with enough momentum to rebound on Saturday morning
-There was a gain of over $86 billion as major cryptocurrencies bounced back
-Bitcoin gained more than 5% to reach $55,500 recovering losses from the last few days
Following the loss of the past few days that got many investors scared, the crypto market has rebounded thanks to high buying pressure for high net worth organizations.
Flagship cryptocurrency, Bitcoin gained more than 5% in the day to reach $55,500.
The overall crypto market gained $86 billion, up 4.94% for the day and it is now worth $1.74 trillion.
No 2 cryptocurrency by market cap, Ethereum posted a gain of 4% for the day, trading at $1,665.8.
Read also: US Government Set To Auction Bitcoin Worth $353,000
Despite top investment bank, Morgan Stanley granting wealthy customers access to Bitcoin, Peter Schiff remains a strong critic of Bitcoin.
The gold hedge fund manager claims that Bitcoin is very risky and had advised investors to flee from it.
At the time of this report, Bitcoin is trading at $54,789, with a market cap of over $1 Trillion.
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