May 10, 2021
-- Bitcoin's rally appears to be running out of steam, at least for now.
The price of Bitcoin (BTC) and Ether (ETH) fell by 15% and 20%, respectively, on April 23 as the cryptocurrency market became engulfed in a major correction, wiping over $200 billion of the value of the market.
Bitcoin's high coincided with the stock-market launch of Coinbase Global Inc., the biggest U.S. cryptocurrency exchange. The two events marked the pinnacle of a heady rally for cryptocurrencies that began last year.
While it makes perfect sense for the market to undergo a major correction, it once again shows the risk of betting all on the queen of cryptocurrencies.
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