The volatility traditionally associated with cryptocurrencies has been on full display in recent weeks. Bitcoin, the largest cryptocurrency, is up by around 33% since Jan. 24 and recently traded at US$43,850, rebounding from a tumble that cut its price in half from November’s record high. Its main rival, ether, is up around 45% since Jan. 24 at around $3,200. (File pic shows representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, and Litecoin in front of a displayed Binance logo.)
NEW YORK: Investors are bracing for more gyrations in bitcoin and other cryptocurrencies, as worries over a hawkish Federal Reserve threaten to squelch risk appetite across markets.
The volatility traditionally associated with cryptocurrencies has been on full display in recent weeks. Bitcoin, the largest cryptocurrency, is up by around 33% since Jan. 24 and recently traded at US$43,850, rebounding from a tumble that cut its price in half from November’s record high. Its main rival, ether, is up around 45% since Jan. 24 at around $3,200, following a nearly 56% nosedive from its record high of $4,868, also in November.
Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.
