Although the major rally has stalled for a while, the Bitcoin price has managed to record an impressive 36 percent price increase in the past 30 days. Last night’s peak even brought the price to a level comparable to that of mid-August last year.
Ethereum (ETH) followed a similar trend to Bitcoin (BTC) and saw a slight dip before surpassing the $1,600 mark that was first captured last weekend. ETH is up 4.7 percent today, with 1 token now trading for $1,607. In addition to the rising price, the trading volume in the two largest crypto coins has also increased explosively in recent days.
Will there be another correction or is this the start of a bull run?
As the market’s impressive run continues, surely many may be wondering if we are witnessing the start of a larger bull run or if another major correction is imminent.
The market has seen a significant drop in liquidity over the past year. Both large and small players left the crypto market en masse. That is not surprising since the crypto prices have performed very poorly in recent months. However, now that positivity is returning and prices are rising again, there is a good chance that investors will again en masse. This can push the Bitcon price up considerably in a short time.