Bitcoin Remains Below $40,000 as the Month Comes to an End
The crypto market has experienced its greatest dip in almost a decade and as the month comes to an end
Flagship cryptocurrency Bitcoin slumped sharply below $34,000 over the weekend, although the coin has recovered to $37,000 at the time of this report
The crypto market cap is currently at $1.59 Trillion, well short of its ATH of $2 Trillion
The value of Bitcoin, the world’s most popular cryptocurrency currently stands at $37,000.
The crypto market continued its volatility over the weekend leading to a decline in the value of major crypto assets before major assets recovered on Monday morning.
Flagship coin, BTC reached a one week low of $33,425 before recovering above $37,000 on Monday morning.
The cryptocurrency of the Ethereum blockchain Ether was also affected by the volatility over the weekend.
ETH dropped as low as $2,262, before bouncing back above $2,500.
In May, the crypto market had experienced its greatest decline with major assets losing more than 30% of their value.
The volatility in the crypto market was trigger by China’s ban on cryptocurrency and Elon Musk’s comments on Bitcoin mining.
Although Musk has changed his stance on cryptocurrency, the crypto market continues to feel the effect.