BREAKING: Market Rally Finds Support, Faces Resistance
Cryptocurrency News: Cryptocurrency prices were relatively unchanged late Friday as the dramatic collapse of digital assets continues to play out. Scroll down to catch up on the latest crypto headlines.
New FTX CEO slams Sam Bankman-Fried as bankruptcy impact spreads.
Binance plans to launch an industry recovery fund for crypto projects facing liquidity crises in an effort to “reduce further cascading negative effects of FTX,” CEO Changpeng Zhao tweeted Monday.
Click here to jump to more on today’s Cryptocurrency News.
Bitcoin is still trading above $16,600 Friday afternoon, relatively unchanged from Monday but down 5% over the last seven days. The world’s largest cryptocurrency traded above $21,000 two weekends ago prior to the unraveling of leading crypto exchange FTX. The two-week meltdown pushed Bitcoin to two-year lows. And it’s traded between $16,200 and $17,000 the past week.
Ethereum is trading just over $1,200 after peaking at $1,277 for the week on Tuesday. The #2 crypto traded near $1,650 prior to the FTX collapse.
Scroll down for more cryptocurrency news and price updates.
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.
Who’s Who In The FTX Collapse: From Sam Bankman-Fried To Caroline Ellison
Off The Books: FTX, Alameda Neglected To Keep Records Of Transactions
Silicon Valley Poured Money Into FTX, With Few Strings Attached
It’s The New Saying Among Tech CEOs: I Apologize
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11/18/2022 Crypto News Weekly Wrap-Up: Bitcoin, Ethereum trade sideways after crashing from FTX bankruptcy; How to generate income on Bitcoin; and…
11/18/2022 Crypto News Weekly Wrap-Up: Bitcoin, Ethereum trade sideways after crashing…
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