Live Cryptocurrency Price: Bitcoin and Ethereum ‘at Risk’ as China Strikes | City & Business

0
24
Live Cryptocurrency Price: Bitcoin and Ethereum ‘at Risk’ as China Strikes | City & Business


The cryptocurrency has recently risen after a period of sustained declines.
Dogecoin has risen 1.84% in the past 24 hours and has risen in recent weeks raising fears of a cryptocurrency bubble.

The cryptocurrency has hit record highs in recent days after online communities pushed up the price of the digital coin.

Michael Kamerman, CEO of broker Skilling, said “parody currency” often attracts investors because of its status and popularity on social media and with celebrities.

He told Express.co.uk: “The resurgence of attention to Dogecoin, which was originally launched as a parody currency, may seem appealing to investors due to its volatility, but for the currency has intrinsic value, scalability and security issues be addressed.

“It’s moved by headlines, tweets, celebrities, or company recommendations and while it’s likely belittled by ‘mainstream’ investors, that’s what brings the masses to cryptocurrencies.

“The masses understand the headlines, tweets and mentions and the masses will likely mature as crypto enthusiasts and begin to appreciate the movement for its more technical undertones.

“However, the main driver of Dogecoin’s popularity is its online communities, associated with the support of high profile business tycoons like Elon Musk. “

LEAVE A REPLY

Please enter your comment!
Please enter your name here