Bitcoin is back above $36,000 but big investors are wary – Mark Cuban says crypto is ‘exactly’ like the dot-com bubble of the 1990s

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

The Bitcoin price has risen more than 340% this year, causing some analysts to label it a 'bubble' Dado Ruvic/Reuters The Bitcoin price recovered on Tuesday to around $36,000 after sliding to just over $30,000 on Monday, as cryptocurrency volatility continued. Superstar investor Mark Cuban said in a tweet the more than 340% rise in price in the last year is 'EXACTLY like the internet stock bubble' of the 1990s. Yet Cuban said Bitcoin and Ethereum could ride out the bubble bursting and thrive in the future. Other analysts - such as those at UBS - were more skeptical. Visit Business Insider's homepage for more stories. The Bitcoin price recovered back to around $36,000 on Tuesday, as the cryptocurrency market recovered from Monday's plunge, but volatility remains high and superstar investor Mark Cuban warned the recent rise is a "bubble" that could be ruinous. Bitcoin fell as much as 20% on Sunday and Monday to just above $30,000 in a wave of profit-taking after the currency's spectacular rally. Investor nerves and a higher dollar also hit crypto-confidence. Yet the Bitcoin price rose sharply on Monday evening and Tuesday morning, climbing more than 15% from Monday's low and breaching the $36,000 mark once again. It then slipped back ...read more...