Good news for crypto in 2020 despite Covid-19 – Ether up 75%

By BR Correspondent

DURBAN – Luno, a South African cryptocurrency exchange, released a report outlining crypto movements during the first half of 2020.

Although Covid-19 and the ensuing deep market crash in March had a significant effect, it’s pretty good news for cryptocurrencies.

Marius Reitz, GM for Africa, said that 2020 began with optimism, as the largest cryptocurrencies kicked off with a green candle month in January. This carried into February, with the price hitting a high for the year-to-date of $10,500 before a slight drop off. Covid-19’s effect on markets offset all the growth seen prior to March when it almost halved.

“We’ve bounced back since then, though. Bitcoin is around $10,700 now and has outperformed both the S&P 500 and Nasdaq, even after the brutal crash.