Ethereum, Bitcoin Prices Stable after Tuesday Pullback

Ethereum and bitcoin prices led a comprehensive market retreat on Tuesday after Korean traders initiated a sell-off. The two crypto-giants stabilized on Wednesday, with neither one seeing a sustained price movement.
bitcoin price
Chart from CoinMarketCap
The total cryptocurrency market cap actually experienced a bit of a recovery. After dipping below $130 billion on August 15, it has climbed back to a present value of $136.6 billion. This is a 24-hour gain of about $400 million.
bitcoin price
Chart from CoinMarketCap

Bitcoin Price Maintains $4,000 Level

On Tuesday, the bitcoin price dropped below $4,000 after breaking through that threshold over the weekend. It reached as low as $3,906 before rallying back across the $4,200 mark. It has receded a bit in the past few hours, bringing the current value of bitcoin to $4,148. Bitcoin now has a market cap of $68.5 billion.
bitcoin price
Bitcoin Price Chart from CoinMarketCap
There are various theories about where the bitcoin price will go from here. RT host Max Keiser and BitMEX CEO Arthur Hayes believe it will strike $5,000 next, while stock trader Ronnie Moas anticipates $7,500 by the end of the year.  Sheba Jafari, a chief technical analyst at Goldman Sachs, forecasts that the bitcoin price will near $5,000 but eventually crash as low as $2,221. Her analysis is based on Elliot Wave Theory.
Short-term prospects aside, it is undeniable that bitcoin is gaining momentum. Goldman Sachs recently said it is “getting harder [for institutional investors] to ignore cryptocurrency.” Money management firm VanEck–which previously derided bitcoin as a “fad”–has now applied for a Bitcoin ETF. One Harvard academic recently predicted the bitcoin price will hit $100,000 in 2021.

By;Worldcoinsmoney.blogspot.com
CRYPTO CURRENCY.

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