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Is there a crypto bubble?

Business News 3 days ago

Analysts suggest that the decline is unlikely to be as severe as in 2018.


13 Jan 2021
PREMIUM!
Is there a crypto bubble?

(FILES) In this file photo taken on February 06, 2018 A picture taken on February 6, 2018 shows a visual representation of the digital crypto-currency Bitcoin, at the "Bitcoin Change" shop in the Israeli city of Tel Aviv. - From its birth in an anonymous paper in 2008 to growth into one of the world's most volatile and closely watched financial instruments in 2018, bitcoin has lived through a tumultuous first 10 years. (Photo by JACK GUEZ / AFP)

Veteran crypto investors have seen this picture before. Bitcoin nearly doubled since the beginning of December to January 8, 2021, then the bubble started to blow off some steam with a 20% price drop in the last three days. It’s much the same story for Ethereum, Litecoin, Bitcoin Cash and other cryptocurrencies, all of them virtually doubling over a period of five weeks. Ethereum is down 24% in the last two days after coming within a whisker of its previous all-time high of $1 450. The spectacle of Trump supporters invading Capitol Hill last week and the aftermath of a contested...

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