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Since the beginning of the pandemic in 2020, cryptocurrency has shown a firm positioning in the market. While the world was facing an economic crisis, things started to look up for the cryptocurrency market. 

The global crisis was like a breath of fresh air for cryptocurrency and we are talking not only about Bitcoin. According to the material from bitcasino.io Etherium, Litecoin and Ripple have shown a great jump in 2020. 

Bitcoin Jump

Since September 2019 Bitcoin broke the price tag ceiling $10,000 and in February 2020 it was $10,300. The price didn’t show any tendencies to fall lower than $8,000. However, in the second week of March Bitcoin reached $5,800 in just a day. Fortunately, Bitcoin re-established itself in April 2020. Here is the cryptocurrency growth chart for the first quarter of the year.

Bitcoin Price Chart Quarter 1 2020

Month, 2020 Lowest Price Highest Price
January $6,955 (Jan 3) $9,545 (Jan 31)
February $8,778 (Feb 29) $10,367 (Feb 15)
March $4,944 (March 17) $9,126 (March 7)
April $6,446 (Apr 1) $8,773 (April 30)

After March, Bitcoin started refilling forces again. The reason why BTC’s price tag keeps rising is because of the event on May 11. This event occurs every four years where the price received by miners for every verified block is reduced to half. In easier words, it cuts the number of bitcoins almost in a half, from 12 BTC, the block reward becomes 6.25 BTC. A lot of people buy Bitcoin before halving day because the tendency shows the rise of the price.

Ethereum Jump

Ethereum is less popular than Bitcoin, but it doesn’t mean you can’t earn some money. January 2019 was a good month for ETH, with its price continuously rising until it peaked at $186 by the end of the month. As well as Bitcoin Ethereum showed a nice tendency growing up in February. By the end of the month, it reached $284 point.

But in March Ethereum felt severe turbulence. Ether’s price plummeted to $107. It finished the month with a hopeful $133.76. April proved to be a better month for Ether.

Month, 2020 Lowest Price Highest Price
January $127 (Jan 3) $186 (Jan 31)
February $181 (Feb 1) $284 (Feb 15)
March $107 (Mar 17) $240 (Mar 8)
April $133 (Apr 1) $215 (Apr 30)

Ether Price Chart Q1 2020

Litecoin Jump

In January 2020 Litecoin jumped from $39 lowest point to the $68 highest, which almost doubled its price. February was a month of a slight rise. From $64 at the start of the second month, it rose up to $84 by February 15. As it happened with two other cryptos we’ve mentioned above, the Litecoin’s price tag started falling down. By the time March began, LTC’s price set at $59. It managed to climb a few dollars in the first week but when the second week began, its price dropped until it descended to $32 on March 15.

Month, 2020 Lowest Price Highest Price
January $39 (Jan 3) $68 (Jan 31)
February $61 (Feb 29) $83 (Feb 15)
March $32 (Mar 17) $62 (Mar 7)
April $39 (Apr 1) $48 (Apr 30)

Litecoin Price Chart Q1 2020

It wasn’t even a tendency because later Litecoin regained its March drop. Litecoin has been steadily growing in the first two weeks of May, almost reaching the $50 mark. Currently, LTC sits at $45 and with the steady rise of Bitcoin, its upward climb can be expected as well. Litecoin is like a smaller brother of Bitcoin and it always mimics it but at a more steady pace.

Ripple Jump

Perhaps, you hear about Ripple for the first time, but it is the world’s third-top cryptocurrency based on market capitalization. Though its price tag has always been unassuming. It has a native coin XPR, which has never hit $1. But it is not a disadvantage as XPR has a market cap of $8 billion. 

Ripple XRP began the year with a $0.19 and experienced a growth spurt throughout January until it ended the month strongly at $0.24. February was a month of glory for XPR reaching $0.33 on February 15. But, as you can guess after that the price started falling and ended the month at $0.23.

Month, 2020 Lowest Price Highest Price
January $0.18 (Jan 3) $0.24 (Jan 31)
February $0.23 (Feb 29) $0.33 (Feb 15)
March $0.13 (Mar 17) $0.24 (Mar 7)
April $0.17 (Apr 1) $0.22 (Apr 30)

Ripple (XRP) Price Chart Q1 2020

The first two weeks of March were promising for XPR and it went above the $0.20 mark before dropping to $0.15 on March 13. Two days later the price broke even the bottom of $0.13. That lasted for a day before XRP slowly climbed out of its dip and attempted to go back to the $0.20 mark. March ended with XRP’s price at $0.17.

XRP climbed steadily throughout April, its price always within the $0.18 and $0.19 range until it reached $0.22 by April 30. 

Analyze and adapt

The crisis period is the best time to test out new systems. The cryptocurrency market also suffered from severe drops in the first quarter of the year, but the beginning of the second quarter of 2021 was promising. All this information is only the tip of the iceberg. Even more useful facts, cryptocurrency trends you can find right here: https://bitcasino.io/blog/cryptocurrency/growth-in-cryptocurrency

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