The prices of the cryptocurrencies bounced at Tuesday’s open from lows of a month and a half to those that fell the day before that slightly lessened fear of a loan default by real estate developer Evergrande, but investors braced for a higher volatility.
The bitcoinThe largest and best-known cryptocurrency was trading around $ 43,000, rebounding from a decline to $ 40,192 earlier in the session. It reached a four-month high of $ 52,000 on September 6.
His minor rival ether, the currency linked to the blockchain Ethereum, rose 1% to $ 3,012 after falling below $ 3,000 for the first time since early August.
Global markets started the week on a turbulent note after fears that trade problems Evergrande They could lead to consequences for the Chinese and global economies caused a sell-off of riskier assets.
We can’t have a very positive outlook until we get through the next few days, “said Matthew Dibb, COO of Singapore-based crypto index fund provider Stack Funds.
“This is purely sentiment-driven right now, and it’s actually had a very low liquidity“he stated, adding that it would be better to wait as the cryptocurrency markets will continue to be affected by contagion.
The cryptocurrency crash It comes at a time when institutional interest in the space has grown and become more common, with many investment banks taking a more optimistic stance.