The largest cryptocurrency by market capitalization is holding ground above the key $20,000 level, but analysts aren't optimistic about the prospects for a sustained rally, Jimmy He reported today.
EToro’s crypto analyst Simon Peters said that crypto has suffered from the same toxic mix of poor company earnings, inflation and central bank rate hikes that have hurt stocks and other assets this year. Crypto prices have correlated increasingly to equity indexes, particularly those with a heavy technology component. Oanda senior market analyst Craig Erlam said that fizzling bitcoin rallies reflect an overall downbeat sentiments about riskier assets.
On Monday, however, panic over troubled crypto lender Celsius Network and insolvent crypto hedge fund Three Arrows Capital seemed to ease. Howard Greenberg, president and co-founder of Prosper Trading Academy, told CoinDesk that the Bitcoin Fear & Greed Index is easing.
Greenberg said that he was "watching the 200-week SMA (simple moving...
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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...