- Both bitcoin and Ethereum showed signs of recovery Wednesday
- The two largest cryptocurrencies showed bearish signals after a Chinese crackdown on initial coin offerings
- The renewed rise appeared to meet analyst expectations
Two of the largest cryptocurrencies were seen to make a recovery after dropping significantly over the past few days. Both bitcoin and ethereum showed bearish signals following a decision by Chinese authorities to ban initial coin offerings (ICOs), which allow firms to raise funds by selling new digital tokens. Bitcoin is now currently trading at $4,519.98, up 2.21 percent, according to Coindesk's price index; Ethereum, meanwhile, is trading at $326.87, up 4.37 percent.
The former, a highly volatile asset, fell to a low of $4,037 on Tuesday, shaving off $1,066 from its most recent all-time high of $5,103 on Saturday.
Source https://www.cnbc.com/2017/09/06/bitcoin-price-on-the-rise-again-after-falling-1000.html