Could bearish near-term catalysts portend well for the medium-term?
What happened
The incredibly unpredictable price action seen in the cryptocurrency sector is once again in full focus today. In aggregate, the crypto market has moved meaningfully in tandem today, with the overall market rising a little more than 1.5% over the past 24 hours, as of 1:45 p.m. ET.
That said, megacap tokens Bitcoin (BTC 1.65%), Ethereum (ETH 1.95%), and Cronos (CRO 4.32%) remain in focus for most investors, given the size and importance of these key blockchain projects. As of 1:45 p.m. ET, these three tokens surged 1.8%, 2.8%, and 4.4%, respectively, over the past 24 hours.
Interestingly, Bitcoin's move (which was the smallest of the three) follows an 85-minute window on Monday in which no blocks were produced. A difficulty adjustment appears to be tied to this issue, which raised eyebrows in the crypto world.
Other top tokens like Ethereum and Cronos have their own individual catalysts and headwinds....
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...