Bitcoin and Ethereum prices are making a comeback, following two weeks of stock market losses.
Bitcoin rebounded 13 per cent for a value of USD$38,000, while the world’s second largest cryptocurrency, Ethereum, is up more than 27 per cent, worth just under USD$2,475.
Bitcoin’s value was chopped in half just weeks after April’s record peak of $64,895. The cryptocurrency’s markets operate 24/7, and prices can drastically change at any hour.
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“Many point to bitcoin’s volatility as untenable,” RBC Capital Markets’ Amy Wu Silverman wrote in a research note published on Saturday. “Indeed, Bitcoin makes severe and dizzying swings.”
More to come.
— with files from Reuters
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