March 2020 Crypto Market Review
March 2020 brought a lot of suspense to the crypto market! We witnessed thrilling developments in the price of many cryptocurrencies and there is a lot to discuss – so let’s jump right in!
Bitcoin in March
Starting from Bitcoin (BTC) – the leading cryptocurrency was priced at $8,540 on March 1 and reached its monthly high of $9,180 on March 7. The following days brought a downturn. The fears of the expected financial crisis caused by the spread of COVID-19 reached its peak on March 13, when BTC fell to $3,869. The whopping 39% price decrease was synced to falling stock prices but the second half of the month brought better news. Bitcoin started climbing up again and ended the month at $6,412.
Other Top Assets
Cryptocurrency exchanges got very busy last month and other cryptos went through a similar rollercoaster. Ether (ETH) started March at $217,9 and reached the high of $251,5 six days later. ETH experienced its monthly low of $88,5 on March 13 but recovered rather swiftly and the crypto was back at $133,99 by the end of the day. ETH closed March at $132, 3.
Ripple (XRP) was priced at $0.227 on March 1. The cryptocurrency climbed to its monthly high of $0.246 on March 6 and witnessed a downturn the very next day. Ripple saw its monthly low of $0.106 on March 13, just like the other top crypto assets. The price of XRP continued to climb up during the second half of March and XRP was priced at $0.173 on March 31.
Litecoin (LTC) welcomed March at $57.7 and saw its monthly high of $68.8 within the first week of the month. LTC experienced a 38.5% drop on March 12 and hit its monthly low of $24.4 the next day. LTC spent the remainder of March recovering its price and closed the month at $39.1.
The faith of Bitcoin Cash (BCH) was similar to the rest of the cryptocurrencies. BCH stood at $312.4 on March 1st and continued climbing until reaching its monthly high of $352.3. BCH saw a 17% price decrease on March 8, followed by a further decrease of 44.9% and fell to its monthly low of $134.5. Bitcoin Cash was worth $218.5 on the last day of March.
That’s it for this month’s market review! CoinMetro offers a user-friendly medium of exchange where you can trade all of these tokens (and many more)! Head over to our cryptocurrency exchange to find out more! Let us know if you have any questions – we’re here 24/7 to help you!