We earlier reported a surge in Bitcoin price and it seems that Ethereum price is also rising with the price at $241 at the time of this article going to press.
The price surge in both the cryptocurrencies is assuring and a huge positive considering that two didn’t see major movements this past few days. While the prices of Bitcoin and Ethereum didn’t go down, they didn’t increase either and have been stable for nearly five days. This was seen as a direct impact of the introduction of Bitcoin Cash and traders trying to sell off what ever BCH they had in had after the chain split.
Bitcoin Cash has suffered a lot over the last 48 hours with the price of the cryptocurrency declining from a high of $515 to now a low of $254 – half in a matter of hours.
Bitcoin and Ethereum have been proving their worth time and again and have shown to investors and traders that they will not go down in any way despite the ebbs they may have faced time and again. Just two weeks back Bitcoin price declined to a low of $1800 and same was the case with Ethereum when its price plunged to $130. Seen as a crash, that phase didn’t last long with price of both the cryptocurrencies recovering in a matter of days.
The latest surge seems to be the result of traders getting back to the two currencies after few days of attention towards Bitcoin Cash. There have been no major developments in Bitcoin and Ethereum front except the week-old chain split and with no negative side effects emanating from the split, things are back to normal with Bitcoin gaining in value.
Just yesterday it was observed that the cryptocurrency market cap has surged past the $100 billion level again and this is an indication that Bitcoin, Ethereum and other prominent digital currencies are here to stay and expand.