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Despite the increased pressure, Bitcoin (BTC) still manages to hold above $ 21,000. At the time of publication of this review, the leading digital currency was trading at $21,381.
Altcoins on Wednesday, August 24, minimally lose in value. Ether (ETH) sank to $1640. The capitalization of ETH for the week decreased by 14% to $ 199.279 billion.
Binance Coin (BNB), Cardano (ADA) and Solana (SOL) are $296, $0.458 and $35.13 respectively. The capitalization of the cryptocurrency market fell to $ 1.025 trillion.
Arcane Research analyst Vetle Lunde recalls that in 2018, bitcoin collapsed by 85%. We have been seeing a similar situation in the market since November 2021. Since then, the value of BTC has lost about 70%.
The head of the investment division of GuideStone Capital Management, David Speke, stressed that digital currencies are still considered by most investors as speculative instruments.
It is unlikely that their point of view will change in the near future, because BTC and altcoins are gradually declining and so far there are no signals to change the trend.
We do not see great prospects for speculative assets, especially cryptocurrencies, which have no real value. All of them are based solely on speculation.
#Bitcoin #stay #values