Bitcoin, Ethereum prices rebound after three-month slide
Crypto markets rebound after declines
Bitcoin and other cryptocurrencies are seeing a price jump to start the week on a major anniversary.
Last year, Bitcoin hit nearly $20,000 for the first time ever. Since then, the price has dropped more than 80 percent.
Bitcoin staged a minor recovery on Monday, finally topping the $3,500 level after weeks of decline.
"As a relatively new concept, cryptoassets are still finding their feet in terms of value," said Mati Greenspan, senior market analyst at eToro to CNBC. "It's important to remember that all assets, in every market, experience a process of price discovery, and that cryptos are no different.
Since the peak last year, the entire cryptocurrency market capitalization has fallen by more than 80 percent. The market value went from $592 billion in December 2017 to about $109 billion this week, according to CoinMarketCap.
Bitcoin cash, Ethereum and Litecoin also saw price jumps on Monday.
Copyright 2018 by WDIV ClickOnDetroit - All rights reserved.