Cryptocurrencies: Bitcoin's Struggles Continue

This weekly update tracks some of the largest cryptocurrencies by market share: Bitcoin and Ether. While both are considered high-risk assets, they possess foundational differences that investors should understand. We have also included XRP, as it was one of the largest cryptocurrencies when this series began. By definition, a cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, control the creation of additional units, and verify the transfer of assets.

Key Takeaways

  • Bitcoin dropped back below $65,000 this week.
  • Ether fell nearly 7% this week, falling below $1,700.
  • Bitcoin is down approximately 28% year-to-date, while Ether has fallen roughly 44% year-to-date.