These factors preceded today’s Bitcoin, Ethereum sell off—here’s what could happen next |
Bitcoin and Ethereum are down 7% and 6% respectively, as worries grow that they could be headed for a major correction. But that doesn’t mean the value of cryptocurrencies is going to stay low. The market is volatile, and investors are prone to panic, but here are some factors to keep in mind when you think about cryptocurrencies as an investment.
Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Bitcoin SV (BSV)—known collectively as the so-called “fork”—have been in the news recently. They’ve been in the news because they, along with Bitcoin (BTC), were overbought, and analysts are predicting a sell-off. Even the market cap of the entire cryptocurrency market is back below $300 billion for the first time in over a year, according to CoinMarketCap.com.
Bitcoin has been on a downward trend for some time now. The price of Bitcoin is currently around a grand, which is down about 50% from its all-time high. Meanwhile, Ethereum has been underperforming as well, down to about $1,000 per Ether.. Read more about why ethereum is going down today and let us know what you think.These factors preceded the wave of sales of bitcoin and ethereum today – but what could happen next? Earn up to 12% annual returns on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins and more. Beginning of importance Edge ‘ Bitcoin – Ethereum ‘ Analysis The two major cryptocurrencies fell 10% on Tuesday, despite acceptance and approval from nation states. Rohan Jethi – 8. June 20, 2021 at 8:00 UTC – 2 minutes reading The bitcoin and ethereum markets shot up on the 8th. There was another massive sale in June, according to data from various sources. Assets are down over 10% and some altcoins are down 15%. To read the rest of the article, log in or go to Edge.
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As an independent organization in the blockchain industry, we are guided by strict editorial policies that emphasize objectivity and transparency in our reporting.The cryptocurrency sell-off in recent days has sent investors scrambling for safe ground. The sell-off happened when South Korea announced that it would ban the use of anonymous cryptocurrency transactions, likely in response to fears over money laundering. This was followed by China’s decision to ban ICO’s and cryptocurrencies, and then the US banning the funding of ICO’s in the US.. Read more about bitcoin price and let us know what you think.
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