Over several hours on May 3, the price of bitcoin spiked from around $5,300 to over $5,700 in major markets, allowing the crypto market to gain more than $7 billion in a single day. Major crypto assets such as ether (ETH), litecoin (LTC), bitcoin cash (BCH) and EOS recorded gains in the range of 4% to 8% against the United States dollar, fueling the momentum of the crypto market. The abrupt recovery of the crypto market led by the strong upside price movement of bitcoin was largely unexpected due to the controversy surrounding iFinex, the company that oversees the operations of Tether and Bitfinex. On April 25, the ... (full story)