Bitcoin climbed back above $40,000 on Wednesday for the first time this week, before edging off its highs. The most popular cryptocurrency jumped as much as 6.5% to $40,904 and then dropped to $38,797. Ether climbed more than 7.5% to above $2,915 earlier in the day on Wednesday. “Cryptocurrency market volatility is not going away anytime soon,” said Edward Moya, senior market analyst at OANDA, according to Reuters.
Here are the prices of the top cryptocurrencies at 2 pm on May 27
Bitcoin: $38,488.59 (-3.45%) Ethereum: $2,739.29 (-3.78%) Bianance Coin: $364.64 (-2.53%) Cardano: $1.71 (-2.64%) XRP: $0.9941 (-3.57%) Dogecoin: $0.3399 (-4.59%) Polkadot: $23.05 (2.65%) Internet Computer: $133.54 (6.47%)
“Right now the aftermath of the crypto plunge is having everyone dig a little deeper to try to find out, are the ESG and regulatory concerns going to pose a major risk in the short term?” Moya said.
“Investors should invest in education first. Research the underlying value of Bitcoin, Ethereum, and other crypto assets as you might look at a company’s information before buying stocks. Use strategies like rupee cost averaging and SIPs to more confidently manoeuvre through volatility and take a long-term view,” Avinash Shekhar, co-chief executive officer of ZebPay.