Bitcoin and Ethereum Show New Momentum After 20% Gain, Is a New Rally in the Works?

Bitcoin and Ethereum Show New Momentum After 20% Gain, Is a New Rally in the Works?

Year-to-date, the price of Bitcoin (BTC) is up 40% against the United States dollar, and other major cryptocurrencies such as Ethereum and Litecoin have also demonstrated strong gains in the past four months.

Performance of crypto assets in the past month. Source: coin360.io

Performance of crypto assets in the past month. Source: coin360.io

Litecoin, for instance, recorded a staggering 208% increase in value since January — outperforming most crypto assets apart from a handful, including Binance Coin and Enjin Coin.

From April 1 to April 3, based on CoinMarketCap data, the price of Bitcoin surged from $4,100 to $5,041, by around 22% against the U.S. dollar.

Bitcoin

After experiencing a slight retracement, Bitcoin along with Ethereum and the rest of the cryptocurrency market are showing signs of new momentum, with BTC recently breaching $5,200.

Ethereum

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