Bitcoin And Ethereum Have Skyrocketed Throughout This Year

The price of Bitcoin and ether continues to increase (Coin Market Cap)

JAKARTA - For the last few days, cryptocurrencies have experienced a positive increase. The market capitalization has reached USD 2.02 trillion (IDR 29.325 trillion). Bitcoin is still the leader in the highest market cap among others.

Based on Reuters' report, bitcoin market capitalization in this week has reached USD 1 trillion (approximately IDR 14.517 trillion) on Tuesday 6 April. Although the price of bitcoin has increased and decreased quite significantly.

Bitcoin has increased 1.4 percent or IDR 856.9 million. Previously, the crypto money prima donna had reached USD 61 thousand or approximately IDR 885.3 million in March.

Despite this, analysts reveal that its market capitalization is still up to USD 1 trillion.

Meanwhile, cryptocurrency number two, Ethereum, experienced the second-largest increase in market capitalization, valued at USD 244 billion on Monday. The price of ether also rose 1.3 percent to touch USD 2.103 (approximately IDR 30.5 million) whereas previously it had touched the figure of USD 2.144.99 (approximately IDR 31.1 million) last week.

Bitcoin and Ethereum have experienced positive increases over the past few months. Bitcoin is up 100 percent, while Ether is up 190 percent.

This increase could be caused by a number of investors and large companies who are interested in the cryptocurrency trend, including Tesla and BNY Mellon.

According to Paolo Arduino as the Chief Technology Officer of Bitfinex said that interest in Bitcoin and Ethereum continues to increase.

"The industry continues to grow, we expect more Blockchain-based applications to be introduced in the world and it coincides with a surge in interest in other alternative assets as they are better prepared for the market", said Arduino.

Meanwhile, the market capitalization or market capital of Bitcoin which has reached USD 1 trillion has made crypto money believed to be the crypto asset of all cryptocurrencies.