Bitcoin and Ethereum see 3% profit as a half-moon

After sinking as low as $63,000 over the weekend, Bitcoin posted a 3% gain to start the week.

At the time of writing, the price of Bitcoin is $66,964. Despite last week's 2.5% swing, BTC still managed to rise 31% in the past month on strong motivation from traders.

We are now less than a month away from the next Bitcoin halving, which will see the reward for miners drop from 6.25 to 3.125 BTC. According to NiceHash, it appears to be happening on April 19 at the time of writing. But the exact date always changes. This is because the halvings occur every 210,000 blocks and are not scheduled to occur on exact calendar days. And although it takes 10 minutes to make new blocks, it varies.

The price of Bitcoin has been volatile over the past week. Beam CEO Andy Bromberg told Decrypt that there is reason to believe it will continue to show volatility until the halving. This is because investors want to assume that they have given a fair value on the halving.

Ethereum showed positive momentum with a 2.6% gain in the last 24 hours. At the time of writing, the price of Ethereum is $3,452. ETH nearly fell below $3,000 at one point last week, but has been steadily rising since Sunday morning.

Still, Ethereum has seen a 17% price increase in the past month.

Late last week, the US Securities and Exchange Commission again delayed its decision on Grayscale Ethereum Trust's (ETHE) application to convert to a spot Ethereum ETF. He now has until May 30 to re-approve, deny or delay.

Meanwhile, execs are looking at Ethereum ETFs and waiting for some good news to find a silver lining for the world's second-largest cryptocurrency by market capitalization.

“Spot Ethereum ETFs will collect more assets if they launch in December than if they launch in May,” Bitwise Chief Information Officer Matt Hogan said on Twitter. “TradFi Needs More Time to Digest Bitcoin ETFs.”