Perhaps there is good news for crypto investors to witness a surge in crypto values throughout the week after the President of the United States (US) Donald Trump was reported positive for COVID-19.
By the end of the week, the total capitalization of the cryptocurrency market had increased by $ 5 billion and there was no depreciation as digital asset investors had expected.
The spike has brought crypto value back to around $ 345 billion which is down from its previous highs, but still high, 80% since early 2020.
BTC seems to be eternally "safe" even though there have been several incidents that were able to pull the asset on a negative side such as the KuCoin sledge issue, the CFTC indictment against the co-founder of BitMEX and the health news of the US president.
When Trump tested positive for COVID-19, the price of BTC shrank 2.5% on Friday. However, in early Monday trading, BTC recovered with the price breaking $ 10,700.
The incident had caused BTC prices at the end of the week to increase by 3%.
Other crypto assets have also seen a boom. Ethereum increased at $ 350 and XRP jumped 7%, to $ 0.25.
For DeFi too, the amount of value locked across the platforms is at its highest at $ 11 billion.
