Cryptocurrency Market Is Experiencing Minor Bear Correction, SEC Snub Didn’t Have Much Impact

  • The downtrend caused by the SEC rejection luckily turned out to be short-lasting as the crypto market is witnessing a slow recovery. The total crypto market cap is $212.1

The downtrend caused by the SEC rejection luckily turned out to be short-lasting as the cryptocurrency market is witnessing a slow recovery. At the time of writing this article, the total crypto market cap is sitting at $212.1 bln after almost plunging below the $200 bln mark for the first time since November 2017. 

Theta Token appears to be the biggest gainer of the day with a massive 44 percent surge. 

Bitcoin has also managed to rebound after the SEC snub with a 1.5 percent increase over the last 24 hours.

The chances of Bitcoin ETFs being approved by Exchange Commission were initially low, so the crypto industry only experienced a minor blow, currently dealing with a bear market correction. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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