Cryptocurrencies rebound after big weekend dip

Source: CNBC

“Bitcoin climbed on Tuesday after a slew of negative headlines had pushed the cryptocurrency to a new 2022 low over the weekend. The price of bitcoin jumped more than 5% to $21,156.34, according to Coin Metrics. Over the weekend, it fell as low as $17,958.05. That was its lowest point since December 2020. Meanwhile, ether rose more than 3% to $1,145.16. … Cryptocurrency companies, including Coinbase and BlockFi, are laying off employees. Crypto lenders, which promise users high yields for depositing their digital coins, have been sparking insolvency fears. In a similar approach to those considering stocks, crypto investors are treading lightly around bear market bounces with some anticipating that the asset class could fall even further before seeing a meaningful rebound.” (06/21/22)