Bitcoin is on track for its worst quarter in more than a decade, but experts believe the bottom may be near for the world’s biggest cryptocurrency.
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Bitcoin stayed just above $20 000 on Wednesday, with its inability to gain upward traction fuelling concern among analysts of further declines.
Ether and bitcoin reached their highest levels in 10 days on Sunday as the market showed some signs of stabilisation.
The CEOs of two of the country’s largest crypto exchanges believe the fundamental underpinnings of the industry are still strong, but asset prices may not rebound quickly.
Crypto lending may not be down and out, but it’s certainly on the ropes.
The crypto industry was on edge on Monday morning on fears contagion from problems at major crypto players could unleash a major shakeout if not contained.
Bitcoin snapped a 12-day slide on Sunday after a record-breaking string of declines. Analysts cautioned the respite may be brief.
Bitcoin fell on Wednesday to a new 18-month low, dragging down smaller tokens with it, as the recent tumble in crypto markets showed no sign of letting up.
Crypto markets have dived in the past few weeks as rising interest rates and surging inflation prompted investors to ditch riskier assets across financial markets.
The value of the cryptocurrency market on Monday fell below $1-trillion for the first time since January 2021, reaching as low as $926-billion.