Bitcoin (BTC) price increased by 241.53 USD (equivalent to 2.9%) to 8563.37 USD.
Ethereum (ETH) price increased by 16.12 USD (equivalent to 6.28%) to 272.80 USD.
Lifecoin (LTC) price increased by 6.37 USD (equivalent to 5.84%) to 115.50 USD.
XRP increased by 0.0160 USD (equivalent to 3.77%) to 0.4401 USD.
Bitcoin Cash (BCH) price increased by 17.81 USD (equivalent to 4.14%) to 447.06 USD.
Bitcoin price at the opening of the session was 8322.99 USD. The highest Bitcoin price recorded in the past 24 hours was 8585.81 USD. The lowest Bitcoin price recorded in the past 24 hours was 8120.09 USD.
Bitcoin increased by more than 3,000 USD in May. The cryptocurrency is currently trading at $8,300 on Bitstamp. This is the fourth consecutive month that Bitcoin has increased in price by 60%, marking the largest monthly increase streak since August 2017.
Notably, Bitcoin prices have grown impressively despite the loss of the Wall Street stock market. The S & P 500 - a benchmark for the global equity market ended in May with a loss of 6%.
Other risk assets - assets sensitive to economic growth prospects - are also losing money.
Copper and Brent oil, two raw materials for global economic activity, fell 9% and 11, respectively, this month. The Chinese yuan has also fallen 2%.
Investors are concerned that the escalation of the US-China trade war could lead to a global economic recession.
Gold, a safe haven, is recording a 1% monthly increase and the US 10-year Treasury rate decreased by 13% or 43 basis points.
However, the increase in leading channels considered traditional safe-haven assets seems unclear when compared to Bitcoin Bitcoin's increase of 60%.
It is too early to conclude that the BTC is a new safe haven, said Coindesks expert.
