CryptoWhistle - Crypto Currency Tracker logo CryptoWhistle - Crypto Currency Tracker logo
Seeking Alpha 2021-05-20 14:27:01

The morning after: Bitcoin bounces to $42K, Ethereum to $3K

Things are getting weird out there, with a particularly cringe-worthy CNBC segment featuring Andrew Sorkin in a "Rat Poison Squared" t-shirt, and the CEO of a near-$600B company going full Twitter flamer.Guggenheim Investment's Scott Minerd continues his love/hate relationship with crypto, now calling it "Tulipmania." Minerd months ago said bitcoin (BTC-USD) was worth $400K, then abruptly switched to bear, before turning bullish again. And now this.Well-followed bitcoin pundit Willy Woo calls yesterday's action the "mother of all liquidations" that has flushed leverage from the system, begun moving coins back to strong hands from weak hands, and has thus set things up for the next bull run.Bitcoin today is up more than 13% and back to the $42K level; ether (ETH-USD) is ahead a similar amount and just shy of $3K. Binance Coin (BNB-USD), Cardano (ADA-USD), and Dogecoin (DOGE-USD) are doing even better.A brief history of bitcoin's bull runs and crashes.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.