Cryptocurrency prices collectively rebounded during Monday's trading, with Bitcoin rising again despite escalating trade tensions between China and the United States.
The cryptocurrency market has witnessed violent fluctuations over the past few weeks due to the tariffs imposed by U.S. President Donald Trump on all countries worldwide.
Cryptocurrencies suffered strong losses after recording astronomical gains over the past few months, specifically since Trump's victory in the U.S. presidential elections.
It was expected that cryptocurrencies, especially Bitcoin, would record record levels this year, but economic fluctuations have pushed investors to shy away from high-risk assets.
Analysts' forecasts indicated that Bitcoin would rise to $250,000 by the end of this year, but it has sharply declined in recent weeks, and in light of the current economic fluctuations, it is unlikely that Bitcoin will continue to rise.
The price of Bitcoin rose by 0.40% during today's trading to be traded at a level of $84,940, bringing its weekly gains to 9.36%.
The market capitalization of the most famous cryptocurrency in the world increased to $1.68 trillion, while its trading volume over the last 24 hours decreased to $32.38 billion.
As for the prices of other cryptocurrencies, the price of Ethereum, the second largest cryptocurrency by market capitalization after Bitcoin, rose by 1.75% to reach $1,636.
The price of Cardano increased by 1.02% to record $0.6514, while Ripple's price rose by about 0.67% to reach $2.1526.
The price of Dogecoin also rose by 1.07% to reach $0.166516, while the price of Binance Coin decreased by 0.45% to $589.
