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Bitcoin price drops as Ethereum continues rising over the weekend

Bitcoin appears to still be struggling to get back to the summit as its price took a slight dip over the weekend, but Ethereum’s fortune continues to get better.

On Monday, Gadgets360 reported that traders were seeing the price of Bitcoin at about $21,785 on exchange platforms like CoinMarketCap, Coinbase, and Binance. Although the price differs across platforms, these three platforms are the crypto authority as far as we are concerned.

Bitcoin had momentarily reached $23,000 in the past week before its latest plunge, and analysts believe that Tesla announcing that it had sold up to 75 per cent of its BTC holdings contributed to the dip. There are projections that this week would be better for the crypto and could see it reach a $24,000 valuation.

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On the other hand, Ethereum rose to $1,515 after reaching $1,400 just a week ago. In fact, it was approaching a $1,600 valuation before a slight slip during the weekend. It seems to be the only well-known coin that survived the weekend in the green.

Others like Shiba Inu, Dogecoin, and lesser known ones like Cosmos, Solana, TRON, Stellar, Avalanche, Cardano, and Chainlink all saw red as their prices dropped.

Since the rise of crypto depends on buyers, the coins would continue to do better unless the tides change. And with world events at an all-time uncertainty high, the tides keep changing frequently, and traders keep having to swim.

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Onwuasoanya Obinna

A reader of books and stringer of words. Passionate about Science and Tech. When not writing or reading he is surfing the web and Tweeting.