New York Only a week ago, Bitcoin hit an all-time high of nearly $67,000.
The price of one bitcoin fell more than 5% Wednesday and was trading around $59,000, 12% below last week’s record levels.
Despite more than 13,000 cryptocurrencies listed on CoinMarketCap — ranging from dogecoin and shiba inu to more obscure tokens with even goofier names, such as Elon’s Marvin, Dogelon Mars, Baby Floki Billionaire and Kitty Inu…
That probably won’t change anytime soon, especially with the advent of bitcoin exchange-traded funds.
The ProShares ETF already already has more than $1.2 billion in assets under management.
Some crypto experts argue that bitcoin prices could hit $100,000 by the end of this year or in early 2022.
But there are signs that some traders may be souring on bitcoin and other cryptos.