The first global crypto boom took place towards the end of 2017. That year the the bitcoins hit the $20,000 mark for the first time. However, following the boom, the top currency along with Ethereum slumped as the markets underwent a correction.
Fast forward in 2021, Bitcoin has broken all its past records several times. On April, 14th it hit its all time high of $68,804.72. The same has been replicated by Ethereum, which in terms of price rise had outshined the top token. Ether prices have risen by 100% in a month and it crossed the $4000 mark for the first time this week.
As the bull run continues, the unprecedented price rise of top currencies is leading experts and analysts to believe that this is a repeat of the 2017 boom. They are already casting apprehensions that once the market corrects itself following the bull run billions will be wiped out of the crypto market.
We have also seen that the top tokens by market cap be it Bitcoin, Ethereum or Dogecoin have slumped everytime they hit a high. The stability continues to remain an issue and the market is more volatile than ever. Last month when Bitcoins hit its all time high of $68,804.72, it dropped below $50,000 mark the following week. However, the leading cryptocurrency has recovered and is rallying around $55,000 at press time.
Ethereum continues to hold and has not demonstrated a dramatic drop in prices after crossing the $4000 mark. Ethereum prices continue to float over $3900.