Cryptocurrencies still under significant pressure

The leading cryptocurrencies that all took a beating earlier today have tried to stabilise at lower levels. Granted many have lifted above their earlier lows, but there is no discernible rebound to yet undo the damage that was inflicted earlier this morning. That saw Bitcoin tumble to as low as 16,340 at one stage. It is almost $1000 above that low now, but it is yet to give the impression that it will fully recover today. If it does, then that would constitute the most amazing of recoveries within a single session. That is not to rule it out of course, but increasingly it looks rather unlikely. It is a similar story elsewhere within the crypto space too, with the likes of Ethereum. Ripple, Monero and Stellar all still nursing their wounds. Bitcoin is currently trading down more than 8.75% on the day, at 17,250