Cryptocurrency News: Cryptocurrency prices fell on Friday After a group of US senators announced that they would investigate the largest crypto exchange Binance for money laundering and sidestepping US regulators. Bitcoin, ethereum and gold all dropped more than 4% in the aftermath.
On Thursday, shares of crypto lender Silvergate Capital (SI) were decimated after the firm delayed the release of financial results.
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Cryptocurrency Price Movement
Bitcoin Recovered to $22,400 by midday Friday after the Binance news caused its value to dip below $22,000. Before the news, it was trading at an average of $23,400. The world’s top crypto has seen its value increase by 35% since the beginning of the year, following its 2018 crash.
Ethereum was up to $1,572 Friday afternoon after dipping to $1,550 overnight. It had reached as high as $1,677 Thursday morning and is up 31% so far this year.
Cryptocurrency Prices Heatmap:
Most Popular Cryptocurrencies
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Investing in digital assets can be highly risky. Technical and fundamental analysis of cryptocurrency prices is a major factor in trading, but scammers and frauds are also a real danger. Remember that digital asset investments are speculative and volatile and you should never invest more than you are willing to lose.
Cryptocurrency has been a volatile investment, with prices that can rise and fall rapidly. Despite the fact that the fundamentals of cryptocurrency may be different, investors should still focus on the same main objectives. First, stay protected by knowing when to sell, cut losses, or take profits. Second, if cryptocurrency begins to rebound, you can expect to make a profit.
Although cryptocurrency had been promoted as an inflation hedge, it has instead tended to trend with the broader indexes. To help investors navigate the increasingly complex digital asset investment world, there are resources available such as The Big Picture Market Pulse, which offers daily insights on market trends. Additionally, the What Is Cryptocurrency? explanation page offers a deeper dive into the topic.
For more information on cryptocurrency prices and news, investors can also look to MicroStrategy, which has converted its cash to software Bitcoin, and former CEO Board Chairman Michael Saylor’s MSTR stock, which claims to be essentially a Bitcoin Spot ETF. Additionally, top NFT sales and collections can be tracked, and more cryptocurrency news can be found from Dow Jones.
Ultimately, when investing in cryptocurrency, it is important to have strategies in place for when to buy and sell. Additionally, investors should stay up to date with the latest news and developments in the market, and be aware of the potential risks associated with trading in digital assets.
