Ethereum prices have doubled in a month. At CryptoUpdate we have been talking about Ethereum crossing the $5000 mark in May. It seems the world’s second leading cryptocurrency is heading the right way. Crossing the $4000 mark on Monday, Ethereum prices are adding more credibility to our nuance speculations. However, it is still a bit early but we are hopeful of Ethereum touching the $5000 mark.
As the bull run continues, Bitcoin is again rallying around the $59,000 mark and it could be hitting the $60,000 mark today or may be later this week. The recovery after dropping below the $50,000 mark for bitcoins has been significant.
There have been mixed reports – both negative and positive about cryptocurrencies – but the strong investor confidence seems to overshadow the negativity around cryptocurrencies. It is for this reason why the Bank of Englands apprehensions about cryptocurrencies did not make an impact on the market. Earlier last week, Bank of England warned crypto investors that they will all lose their money – nothing new coming from a conventional banking institution.
The market continues its bull run with all major tokens in green except Dogecoin which demonstrated a downward trend after touching record highs. Dogecoin was down 15% yesterday.