Dusseldorf For a short time on Monday it looked like the Bitcoin price was going up again. But only for a short time: After a brief excursion towards the $32,000 mark, the cryptocurrency quickly returned to its usual trading range of $30,000. It was finally trading at around $29,500 on Tuesday afternoon. The oldest and most important cryptocurrency remains far from its record high of more than $69,000.
Experts are already talking about a “crypto winter”. Also because not only the oldest and most important cryptocurrency has been stagnating at a low level for weeks: Other cryptocurrencies such as Solana, Ethereum (Ether) and Cardano are currently experiencing faltering prices. And the crashes of the crypto project Terra and the Luna coin in May have recently further increased the uncertainty in the digital cybercurrency market.
All of this is “very unusual,” says Handelsblatt finance editor Andreas Neuhaus. Normally, at least the Bitcoin price recovers quickly from a low. At the moment, however, this recovery is missing.
Should investors take this as a warning sign? Or maybe now is the right time to enter the crypto market?
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In the “Tech-Deep Dive” at “Handelsblatt Today” financial editor Andreas Neuhaus, New York correspondent Astrid Dörner and host Sonja Schlacht discuss the latest developments in the crypto market. And they show the risks that overly optimistic investors now have to reckon with when entering the crypto market.
The Handelsblatt experts also recall another “crypto winter”: Bitcoin experienced a comparable ice age back in 2018 after the big hype bubble burst. At that time, the price of the cryptocurrency fell by almost 80 percent. However: “One mustn’t forget how well the market has developed since then,” Dörner points out.
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