The Cryptopians, discusses the current cryptocurrency moment and where the market is moving next. To get Laura’s take on NFTs and the metaverse, watch part 2 of the interview.
” vid-name=”Unpacking The Cryptocurrency Craze With Author Laura Shin” vid-cat=”Investing Trends” vid-date=”02/25/2022″ vid-date-tmsp=”1645754933″ vid-image=”https://www.investors.com/wp-content/uploads/2022/02/1vGrUx2r-640×360.jpg” vid-authors=”ALEXIS GARCIA”>
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Cryptocurrency News: Crypto prices and related stocks rallied early Friday as bitcoin surged above $47,000 to its highest level in more than two years, barring the intraday spike on Jan. 11 after bitcoin ETFs launched. Digital asset prices have held steady amid signals the Federal Reserve may delay rate cuts, and as regional bank stocks struggle amid commercial real estate risk.
Coinbase (COIN) bolted more than 6% higher early Friday while bitcoin miner Marathon Digital (MARA) soared 10.7%. MicroStrategy (MSTR), the largest publicly-traded bitcoin holder, swung up more than 6%. The company acquired another 850 BTC in January, bringing its total to 190,000 worth about $8.1 billion, MicroStrategy announced during its Q4 earnings call on Feb. 6.
Meanwhile, among bitcoin ETFs, Grayscale Bitcoin Trust (GBTC), Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB) all jumped nearly 4%.
Jan. 11 was a historic day for the crypto industry after the SEC approved 11 bitcoin ETF applications late Jan. 10, which included issuers ARK Invest (ARKK), BlackRock (BLK), Grayscale, VanEck and more.
Other trends are set to drive bitcoin in 2024, including the upcoming halving event in April and influx of institutional participation.
The Best Bitcoin, Cryptocurrency ETFs To Watch And Buy
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Cryptocurrency Price Action
Bitcoin traded above $47,300 early Friday, up 6% over the last 24 hours, and touching its highest levels since January 2022. Bitcoin had spiked to $49,000 January 11 on the ETF launch day — its highest level since December 2021. BTC then fell back into its early December 2023 level prior to the SEC announcement. The world’s largest cryptocurrency rebounded about 157% in 2023. Bitcoin is up a bit more than 7% so far this year.
Ethereum rose to $2,508 Friday morning to a two-week high, still below its Jan. 12 high above $2,700 — its best level since May 2022. The No. 2 crypto jumped roughly 92% in 2023. Ethereum climbed 6.6% so far in 2024.
Cryptocurrency Prices Heatmap:
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Digital asset investments are extremely volatile. While cryptocurrency’s fundamentals and technical indicators may differ, investors should focus on the same key objectives. First, stay protected by learning when it’s time to sell, cut losses or capture profits. Second, prepare to profit if the cryptocurrency starts to rebound.
Despite their original promise, cryptocurrencies haven’t acted as hedges against inflation. Instead, they’ve trended with the broader indexes. Read The Big Picture and Market Pulse to track daily market trends.
View IBD’s Best Cryptocurrencies And Crypto Stocks To Buy And Watch page to help navigate the world of digital asset investments.
Want a deeper dive into crypto? Check out the What Is Cryptocurrency? explainer page.
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Read More: Cryptocurrency Prices And News: Bitcoin Price Spikes Above $47,000 To Two-Year