Bitcoin price pulls back as ether forges ahead

Not to alarm you or anything, but the price of bitcoin has undergone another drop.

The price of the popular digital currency hovered at around $659 on Monday, with a market cap of more than $10.44 billion. This is a fall of close to $6 since last Friday’s price piece.

Meanwhile, bitcoin’s cousin—the ether—is steadily recovering from last month’s DAO hack that drained close to $60 million worth of ether from one of its wallets. The price per ether has risen to over $14 with a market cap of about $1.2 billion—its highest since June, when the digital asset surged to a high $18.95 value.

Analysts trace ether’s partial price and market cap recovery to ethereum’s hard fork project, which aims to reimburse investors who lost funds following the DAO hack. Ethereum, as we all know, is built on the same system that powers its cousin bitcoin—the blockchain, which makes use of cryptography to hold and spend money instead of the traditional bank or credit card companies. But unlike its cousin, ethereum pushed the blockchain even further by allowing developers to build codes on top of a blockchain ledger.