Crypto Market Recovery
The crypto market has shown resilience after a recent "flash crash" that wiped out hundreds of billions in value.
An influx of bargain hunters has sent the total crypto market cap back above $4 trillion, with nearly $190 billion coming back into the crypto universe overnight.
- The crash was triggered by outside shocks, including an abrupt increase in U.S.-China trade tensions on October 10, 2020.
- The rapid recovery may mask substantial and systemic weaknesses revealed by the "flash crash".
The speed and violence of the crash were a stark reminder of how easily the crypto market can be impacted by outside shocks.
Author's summary: Crypto market recovers $190 billion after flash crash.
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