Bitcoin has gone up by 12% within the last 24 hours and approached the cherished $10,000. The capitalization of the cryptocurrency market is storming again to $500 billion.

The cryptocurrency market is showing signs of recovery again. The growth dynamics is demonstrated by almost all participants of the top 20 cryptocurrencies by the volume of their capitalization.

The main cryptocurrency added 12% overnight and trades at $9,940. Ethereum approaches again the mark of $1,000, trading at $951, and Bitcoin Cash went up to $1,388. The leader of the bullish rally within the last 24 hours is Litecoin. Its price jumped to $230, adding more than 20% overnight and almost 50% in two days. Its growth is fueled by reports of further development of the project, in particular by the forthcoming launch of two processing services. Thus, on 26 February, the processing service LitePay is scheduled to be launched, trying to compete with BitPay, the current leader of this industry. LitePay will simplify acceptance of litecoins as a means of payment in shops, restaurants and other retail outlets that mostly work with fiat money. Also, in the future, another processing service LitePal, which plans to cooperate with PayPal and Western Union, will be launched. LitePal successfully completed the registration procedure and received an Australian business number from the Australian Securities and Investments Commission.

Ripple also is growing, although within the limits of the average market growth rate. Ripple also reported on several important partnerships with Western Union, which is testing the payment blockchain system xRapid, and with the Central Bank of Saudi Arabia, which will use Ripple's other product - xCurrent - for instant payments settlements. So far, the Ripple rate has grown only by 9% and reached $1.16, which is more than twice as lower as its peak price at the beginning of January 2018.

Market participants hope that cryptocurrencies will return to the bullish trend after the Chinese New Year, which in 2018 is celebrated on 16 February. But a number of analysts, including the executive director of the Bitcoin Foundation, Llew Klaasen, believe that the market will continue to move in sideways in the near future. At the same time, in the long run, bitcoin could rise to $40,000 by the end of 2018, Klaasen believes.