The Cryptocurrency market is a mixed bag today. Bitcoin prices fell on Tuesday extending losses to $3,341. However, the coin managed to recover above $3,400.
The total value of all digital assets in circulation stays at $113B, off the Tuesday low of $111B. This is someway off the peak of over $830 billion market value reached at the start of 2018.
Cryptocurrency experts refrain from overoptimistic short-term forecasts amid weak fundamental backdrop and poor sentiments
Last week United States banking giant, as well as long-time Bitcoin and crypto skeptic J.P. Morgan, warned investors buying Bitcoin (BTC) to diversify their investments by adding stocks and other assets. This isn’t a bad idea as a balanced portfolio across different sectors is always a great risk management tool.
On other cryptocurrencies, Ripple’s XRP stays marginally above $0.2900 level. The coin is recovering from the recent low of $0.2862 amid growing short-term volatility.
Ethereum sits at $105.63, unchanged both on a day-over-day basis and since the beginning of Wednesday.