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Crypto Markets Showing Positive Signs, as Bitcoin Soars Above $7,400

Wednesday, July 18: The cryptocurrency markets are beefing up their recovery from latest corrections, with all of the top 10 coins by market capitalization showing percentage gains today, as Tokens24 data shows.
After diving a multi-month low of $6080 on Thursday, July 12, Bitcoin is bouncing back considerably  Tuesday, July 17, Pushing over $7469.81 about 10.2 percent in 24 hours to press time, and pulling the top 10 altcoins up with it.
Altcoins are also showing vigorous growth, with all the top 100 coins in the green except for Tether and TenX. In the top 10 digital currencies, Ethereum (ETH) and EOS have gained up to 5.35 and 12.46 percent respectively, while XRP and Bitcoin Cash (BCH) have increased by 6.97 and 8.60 percent respectively in the 24hrs to press time.
Notably, On CoinMarketCap’s listings, all of the top 100  digital coins by market capitalization are showing green except for Tether and TenX which have dived 0.13 and 4.87 percent respectively over the past 24 hours to press time.
At press time, Bitcoin 24-hour trading volume stands at $4.64 billion – up more than 50 percent from the multi-month lows seen on Saturday.
[b]What’s with all this short-term volatility?[/b]
As highlighted Yesterday, the ricochet can be associated with yesterday’s bullish news that BlackRock has set up a working group to explore ways it can take advantage of the fast-growing Bitcoin market. BlackRock is the world’s largest provider of exchange-traded-funds (ETF) valued at $6.3 trillion.
In addition to The short-term rally of July 17, Postive news have continued to stream in, such as the appointment of a new CEO for Goldman Sachs, who in multiple occasion discussed bitcoin in a positive light.
Also today, a new project for a U.S. dollar-pegged stablecoin dubbed Stronghold USD received backing from IBM. The coin launched on Tuesday on the Stellar blockchain platform.

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