On Saturday, the price of Bitcoin and Ethereum continued to top crypto market and has ticked off to pass relevant thresholds. The market at large made its steady gains also, which enabled the total crypto market cap to raise more than $175 billion which is the first time this would happen since the start of September.
The overall rate of all cryptocurrencies cruised past the $175 billion benchmark on Friday, which has made the level of its comeback evident following the decrease of last month. However, it continued to increase for the rest of the day, as it later reached its current rate of $175.2 billion thereby making it attain a total of $5 billion below the all-time high record it set before its setback.
The chief executive of JPMorgan, Jamie Dimon put an end to his self-inflicted moratorium on talking about Bitcoin 24 hours later as he attacked Bitcoin buyers and called them “stupid,” and he believed that they would “pay the price” when the value of bitcoin finally crashes to nothing. Though bitcoin investors paid little attention to him as the price of Bitcoin once again increased by 1.5%, which moves it a step forward to surpass the initial $5,700 level to its current rate of $5,732.
Presently, the coin still maintains a crypto market cap of almost $95.3 billion, making it bigger than Goldman Sachs in no small amount.
Concurrently, the price of Ethereum experienced a setback as low as $290 while bitcoin was having its own time out during the week, but Ethereum initiated a boost during the midweek which saw it rise to a value of $326 on Friday. Currently, the price of the second largest cryptocurrency has reached the rate of $340 which is approximately a daily revenue of 3%.Altogether, Ethereum now has a market cap of $32.4 billion.