Crypto Market Tops $2 Trillion

After nearly 3 months, Bitcoin topped $48,000 over the weekend, and the value of the entire crypto market reached $2 trillion. Bitcoin was sold off heavily during June and July and dropped below $30,000 after a high of $64,000 in April. The crypto market has fought several battles this summer. Renewed regulations in China forced bitcoin operations to shut down. And last week, the U.S. Senate passed a bill without the proposed amendments on crypto tax reporting. Analysts saw this as a hit for the crypto community and a sign that the U.S. government takes the crypto industry seriously.