Pullback In Bitcoin And Ethereum: Trend Remains Higher But So Do The Risks – Investing.com India

SourceInvesting.com
SectorFinancial Markets
CountryMiddle east

This article was written exclusively for Investing.com.Crypto asset class striving for mainstream acceptance Governments are a roadblock; Technology businesses provide support Bitcoin pulls back resuming scary volatility; Opportunity or a warning? Ethereum is on a bumpy road At the $60,000 and $2,030 levels respectively at the end of last week, and pulled back from their recent highs, then snapped right back. Meanwhile, the ascent of the tokens that float around in cyberspace has been nothing short of incredible.Last March, Bitcoin traded to a low of $4,210, and Ethereum hit bottom at the $124.50 level. Each crypto coin has been a ten-bagger even after the recent corrections from new record highs.Market participants who believe that higher levels are on the horizon argue that the overall market cap remains small at the $2 trillion level. After all, Apple’s (NASDAQ:) valuation alone stands at over $2 trillion.

On the flip side, some critics argue that the tokens have no intrinsic value and will eventually become...read more...