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 nominal dollar value of the total crypto market cap back above $4 trillion, with nearly $190 billion returning to the crypto universe overnight.
The rapid recovery may mask substantial and systemic weaknesses revealed by the "flash crash", leaving many to wonder if this is a genuine recovery or the calm before the next "storm".
The large-scale breakdown began on October 10, 2020, with a severe increase in U.S.-China trade tensions.
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.
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