Cryptocurrencies recovered by 16% in one week

The cryptocurrency market is now in the black after recovering more than $ 130 billion over the past week. Interestingly, the increase in the market capitalization value of the crypto market has occurred at a time when there are widespread fears that the industry is in the midst of a cryptocurrency winter.

Despite this, the total value of the global cryptocurrency market capitalization increased by more than 3.3% over the past day. The total growth for the week amounted to 15.99%, according to CoinMarketCap.

The value of the flagship cryptocurrency bitcoin has also increased with all other assets. Currently, bitcoin (BTC) is trading at over $ 21,000, up 2.29% from a day ago and 10.27% from the previous week.

The decline in the price of BTC is being actively used by whales — the world’s richest bitcoin owner bought 2554 BTC last month.