Ethereum, the world’s second most significant cryptocurrency by market cap, surged as much as 14 percent against the US Dollar during the Monday’s Asian trading session.
But what has sparked this sudden rise in the stocks? Many have pointed out that the words of Donald Trump, the US president may have been a factor as he pre-emptied his trade talks with China claiming they were reaching a conclusion in a tweet.
This certainly caused a spike for the crypto market especially as news outlets began to say that the talks were positive.
However, Crypto is still experiencing a bear market and although this is a considerable spike in comparison to what has been seen before. Let’s not get our hopes up too much.
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