“This is no different than an entirely erratic stock,” said Cramer.
Bitcoin’s sharp correction may not have broken its uptrend, but several altcoins have signaled that a short-term top could be in place.
But the statement wasn’t without a few bullish predictions for Bitcoin and Ethereum.
Traders are freaking out about today’s 27% Bitcoin price drop but historical data show sharp corrections are natural even during bull markets.
There is no indication that anyone requested such a proof-of-concept, however.
2021 & 2022 touted to be the most important years for the development of CBDCs
Price retracements in bull markets can occur amid an overall macro-bullish backdrop.
The total cryptocurrency market cap fell by more than $200 billion as Bitcoin price dropped to $30,229 and altcoins correctly sharply.
CoinShares has reported “evidence of potential profit taking” among institutional investors, as weekly crypto fund inflows drop 97% in less than one...
“Ripple’s all-star engineering team continues to grow,” Ripple CEO Brad Garlinghouse said of the firm’s new senior VP.