Bitcoin Crosses $35,000 Mark Again

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After dropping below the $30,000 mark in a flash crash following China’s hardened approach to curbing Bitcoin mining, Bitcoin is once again trading slightly above the $35,000 mark. The leading token is still about half of the price it hit in April earlier this year. 

In April, Bitcoin crossed the $60,000 mark and at above $64,000 it touched  all-time high. However, since the second week of May the top tokens have lost significant value and as the crypto market shrunk due to unfriendly decisions from major governments like China. 

Ethereum on the opening day of the week is also trading above the $2,000 mark. The second biggest cryptocurrency by market size also touched an all-time high this year when it crossed the $4000 mark.

However, the dampened investor sentiment triggered by the market crash led to a significant drop in ETH prices. Also, another reason could be that Ethereum, which has been planning to deploy new technologies to lower the congestion and gas fees on the network has not been able to deliver so far. 

For other cryptocurrencies, including DOGECOIN and Cardano the opening day market has been balanced. The 24 hours price change is in Green for Cardano’s ADA. So, far this year, Cardano has proven to be more resilient to market volatility than other tokens.

Utsav K.
Utsav K.
Utsav is a senior crypto journalist and has been an active member in the community from even before the first major crypto boom back in 2017. In his writings, he focuses on analysing price trends and investigating policies. If you want to understand the practical implications and uses of complex technical protocols, he is your guy.

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