Bitcoin’s price rebounded Thursday, rising up nearly 2% over the past 24 hours to $39,500.
Bitcoin and other cryptocurrencies have had a slow start to the week, primarily driven by ongoing economic and geopolitical uncertainty.
Bitcoin continues to trade in a relatively tight range around the $40,000 support level but remains extremely volatile.
Experts say the $40,000 benchmark has emerged as a key level for bitcoin because how it performs from there could determine whether the market enters another bullish or bearish phase.
Bitcoin’s high point of the year so far remains in the earliest days of January, when it nearly hit $48,000.
Ethereum has struggled to keep pace this week, trading at just under $3,000 Thursday morning.
It’s expected to happen over the next few months, though a few recent developments suggest “The Merge” won’t happen in June as previously forecast.
In the short term, these factors have created some noise and extra volatility in the crypto and stock markets, but this is usual during times of uncertainty.
Experts generally recommend keeping your crypto investments to less than 5% of your total portfolio.
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