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Cryptocurrency News: Cryptocurrency prices lagged early Monday after last week’s launch of spot bitcoin ETFs. Thursday was a historic day for the crypto industry after the SEC approved 11 bitcoin ETF proposals late Wednesday, which included issuers ARK Invest (ARKK), BlackRock (BLK), Grayscale (GBTC), VanEck and more. Bitcoin traded around $43,000 early Monday.
Meanwhile, 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 near $43,000 Monday morning after spiking to $49,000 early Thursday on the ETF launch – its highest level since December 2021. BTC has fallen back into its range $42,000 to $45,000 range prior to the SEC announcement. The world’s largest cryptocurrency rebounded about 157% in 2023. Bitcoin is up just over 1% so far this year.
Ethereum traded above $2,530 early Monday after its Friday rally above $2,700 for the first time since May 2022. The No. 2 crypto jumped roughly 92% in 2023. Ethereum is up more than 10% 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.
More Cryptocurrency Prices
Note: MicroStrategy is a software company that converts its cash into Bitcoin and heavily invests in cryptocurrency. Former CEO and Board Chairman Michael Saylor claims MSTR stock is essentially a Bitcoin spot ETF.
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