After a Catastrophic Week, Crypto Markets Rally Forth Into the Green

August 9: The summer crypto rollercoaster continues, as the market sees a healthy rebound into the green after sustaining major losses yesterday.

While today's sprightly uptick may assuage some edgy crypto nerves, Dogecoin creator Jackson Palmer has been eyeing the recent plummeting markets, which many attributed to U.S. regulators' announcement August 7 that they would be delaying their decision over whether or not to approve a high-profile BTC exchange-traded-fund.

More optimistically, Litecoin creator Charlie Lee said in a tweet today that he considers the bear market to be "The best time for people to work on adoption."

On CoinMarketCap's listings, all of the top twenty coins by market cap, except one, are in the green, seeing solid gains within a 1 to 9 percent range.

Among the top twenty coins by market cap, Ethereum Classic is the only alt in the red, the first day it has seen losses after a strong bull run all week that defied the wider bear market.

After riding a wave of positive momentum triggered by news of its August 7 listing on popular U.S. crypto exchange and wallet service provider Coinbase, the alt has dropped slightly by around 2 percent today to trade at $15.04 at press time.

Total market capitalization of all cryptocurrencies is around $228.6 billion at press time, up over $9 billion from yesterday's aforementioned $219 billion low.

7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap.

As the dizzying vagaries of the crypto markets leave some reeling, a team of financial experts from Yale University have this week suggested a system of factors to predict price trends in major cryptocurrencies.

Commenting on this "Investor attention," Pantera Capital CEO Dan Morehead today said that crypto markets have recently witnessed something of an overreaction from investors in response to short-term news, such as the SEC's Bitcoin ETF delay.