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Seeking Alpha 2021-05-07 12:41:38

Cryptocurrency roundup: New highs for ethereum, Elon Musk advises caution, as does Gary Gensler

Ethereum (ETH-USD) overnight climbed to a new all-time high above $3,600, with its market cap briefly topping $400B. That compares to Bitcoin's (BTC-USD) market cap of about $1T. As for bitcoin's price, it continues in a tight range, currently trading at $56.5K.Ahead of his Saturday Night Live appearance this weekend, #dogefather (DOGE-USD) Elon Musk tweeted, "Cryptocurrency is promising, but please invest with caution!" The comment had little effect on the price of dogecoin, which is flat at $0.60 and a market cap of $80B.Appearing on CNBC, new SEC Chairman Gary Gensler expressed concern over "gaps" in oversight for bitcoin trading on exchanges. Gensler is thought to be somewhat simpatico towards Bitcoin, so it's likely what we're seeing is a bureaucratic battle over regulation, rather than a crackdown on crypto. At the moment, any number of government alphabet agencies are trying to get their arms around cryptocurrencies.In other news, talent continues

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