April Marks a Powerful Month for Most Cryptocurrencies

Things got off to a powerful start early this month after bitcoin, the father of crypto, decided it was time to spike beyond $5,000. The currency had been trapped in the doldrums for well over a year, falling from its $20,000 high in December 2017 down to the mid-$3,000 range by Thanksgiving of 2018. It was an ugly sight, and one that made many think the crypto market would never recover. Enthusiasts and traders everywhere saw the master of crypto drop by well over 80 percent with no signs of a bull rally in sight. Bitcoin wasn’t alone in its descent, with currencies like Ethereum falling well over 90 percent. The number one competitor to bitcoin and the second-largest cryptocurrency by market cap dropped from its all-time high of nearly $1,400 in February of 2018 to less than $100 within the same timeframe. Currencies like Litecoin and bitcoin cash followed suit, falling from over $400 to about $50 and over $3,000 to less than $500 respectively. Though we’re nowhere near the December 2017 marks, April has set cryptocurrencies on the right path.