Top cryptocurrencies bounced back on Monday, with bitcoin gaining over 3% to rise above the $32,205 mark. The crypto asset traded at $33,458 as of 13.30 pm, as per data available with crypto exchange WazirX.
Vikram Rangala, Chief Marketing Officer, ZebPay said, “After a 20% correction from its latest all-time high, Bitcoin bounced back to $33,000, confirming the long-term bullishness of value investors. The quick recovery suggests that the price may remain above $30,000. If future dips also attract fresh buying, we may well never see $20,000 Bitcoin again.”
“As Bitcoin stabilized, we also saw record highs for altcoins including Ethereum and Chainlink. Along with the record highs and dramatic dips, the alleged leak of 325,000 customers’ data from one Indian exchange brought renewed attention to the need for high-security standards to protect crypto investors data and money,” said Rangala.
Bitcoin the biggest cryptocurrency with a market capitalisation of $622 billion, has delivered around 20% return since the start of the year, having touched an all-time of $41,940. In comparison, Ether, which has a market cap of $162 billion, has surged around 86% this year. Ether, which had hit an all-time high a few days back, today gained 7% to $1,423.