The leading cryptocurrencies, Bitcoin and Ethereum, reportedly exhibited a positive inclination, indicating a good start this week.
It is noteworthy that cryptocurrencies are much related to the macroeconomic news, particularly its inflation and economic growth. To be added, the macroeconomic data would be considerably lighter this week than Wednesday’s inflation data release by Great Britain and US housing.
On Monday, the price of Bitcoin rose 1.4% on moderate volume, as at one point, the price rose to $19,670. The coin had a steady accent in the morning, with a rise in its price for five consecutive hours.
BTC Price on Monday
Following the recent sell-offs, the bulls made a sluggish return to the coin that contributed to the sudden hike in BTC price. On Sunday, the coin was traded only at $19,118.19.
Thus, it could be understood that Bitcoin had managed to stay above the all-year low rate of the coin.
Similarly, Ether’s price increased by 1.3%, rising over $1,300. Though the coin exhibited fluctuations, at 20:00 UTC, it reached its highest, almost $1337. On Saturday, the price was as low as $1275.
Ethereum’s Price on Monday
Notably, after the Ethereum Merge, Ether had been showing a reasonable hike in its price till October 8, when it became deflationary for the first time after the Merge. Taking into account the flow of its price since October 8, it could be estimated that ETH had an increase of almost 1.2% after its fall.
The post A New Hike: Bitcoin and Ether Rising Above All-Time Low appeared first on Coin Edition.
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Source: Cryptocurrency - investing.com
