Crypto Market Stabilizes After Violent Sell-Off

Rebound follows $100 billion of value wiped off cryptocurrency market

Image Credits: Chris Ratcliffe/Bloomberg via Getty Images.

Cryptocurrency markets stabilized on Saturday after a violent sell-off saw billions of dollars wiped off the value of many digital coins.

Still many of the cryptocurrencies were well off their all-time highs.

Bitcoin hit $8,997.91 on Saturday morning New York time, according to CoinDesk data. CoinDesk’s bitcoin price index tracks prices from digital currency exchanges Bitstamp, Coinbase, itBit and Bitfinex.

Meanwhile ethereum hit a high in the day of $945.21 and ripple traded as high as $0.89.

Bitcoin was up around 7 percent in 24 hours, while ethereum and ripple were significantly higher.

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