Bitcoin rises, nearly recouping the previous week’s losses

Bitcoin led cryptocurrency prices higher Friday, virtually recouping the week’s losses after falling to its lowest level since mid-March Wednesday night.

Cryptocurrency Price Action

Bitcoin was trading about $26,800 late Friday, after falling below $26,000 for the first time since March on Wednesday night. This month, Bitcoin fell from its April 14 high of $31,019, its highest level since last June. BTC has lost additional ground since May 5, when a transaction delay forced the price to fall on May 8. So far this year, the world’s largest cryptocurrency has fallen about 62%.

After falling to $1,763 late Wednesday night, Ethereum recovered to $1,836 on Friday. Ethereum reached a high of $2,139 on April 16 – its highest valuation since last May – and broke beyond the $2,000 barrier for the first time in nearly a year on April 13 following the Shanghai upgrade to a proof-of-stake network. Year to date, the No. 2 cryptocurrency has increased by approximately 53.4%.

Cryptocurrency Prices Heatmap:

Continue reading for more bitcoin news and pricing updates.

Investments in digital assets are particularly volatile. While the fundamentals and technical indicators of cryptocurrency may change, investors should focus on the same main objectives. First, protect yourself by learning when to sell, cut losses, or profit. Second, be ready to profit if the coin begins to recover.

Despite their original promise, cryptocurrencies have not served as inflation hedges. Instead, they’ve followed the larger indexes. To keep up with daily market movements, read The Big Picture and Market Pulse.