Market Recovers $10 Billion in Two Hours as Ethereum and Bitcoin Cash Lead the Rally28

The market has rebounded in the past two hours, gaining $10 billion in the process. The comeback is led by Ethereum and Bitcoin Cash, both of whom have gained 13 percent. Ethereum was trading at $136 at press time, bouncing back from $117 registered just three hours earlier. Its trading volume also saw a remarkable 24 percent gain to hit $3.1 billion.

Bitcoin also registered a gain, raking up 6 percent to trade at $3,953. Despite the gain, the currency is yet to recover its Christmas eve drop. However, the currency looks set to get back to the crucial $4,000 level, a level that has proven quite easy to breach for the bears. The fightback comes as a report by WSJ reveals that the currency has found a trading correlation with gold. According to the report, this is a clear sign that institutional investors have a huge stake in the market.

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