Cryptocurrency News: Cryptocurrency prices were relatively unchanged late Friday as the dramatic collapse of digital assets continues to play out. Scroll down to catch up on the latest crypto headlines.
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Cryptocurrency Price Action
Bitcoin is still trading above $16,600 Friday afternoon, relatively unchanged from Monday but down 5% over the last seven days. The world’s largest cryptocurrency traded above $21,000 two weekends ago prior to the unraveling of leading crypto exchange FTX. The two-week meltdown pushed Bitcoin to two-year lows. And it’s traded between $16,200 and $17,000 the past week.
Ethereum is trading just over $1,200 after peaking at $1,277 for the week on Tuesday. The #2 crypto traded near $1,650 prior to the FTX collapse.
Cryptocurrency Prices Heatmap:
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Digital asset investments are extremely volatile. While cryptocurrency’s fundamentals and technical indicators may differ, investors should focus on the same key objectives. First, stay protected by learning when it’s time to sell, cut losses or capture profits. Second, prepare to profit if the cryptocurrency starts to rebound.
Despite their original promise, cryptocurrencies haven’t acted as hedges against inflation. Instead, they’ve trended with the broader indexes. Read The Big Picture and Market Pulse to track daily market trends.
View IBD’s Best Cryptocurrencies And Crypto Stocks To Buy And Watch page to help navigate the world of digital asset investments.
Want a deeper dive into crypto? Check out the What Is Cryptocurrency? explainer page.
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Note: MicroStrategy is a software company that converts its cash into Bitcoin and heavily invests in cryptocurrency. Former CEO and Board Chairman Michael Saylor claims MSTR stock is essentially a Bitcoin spot ETF.
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