Cryptocurrency prices slumped today on news from the European Central Bank and EEA.
Bitcoin and Ethereum both declined, with Ethereum plunging a whopping 14.8%.
Here are the biggest cryptocurrency news stories today...
The rapid rise of a new cryptocurrency called Ethereum has fueled speculation that the incumbent Bitcoin now has a rival with the potential to sweep it aside.
It’s true that the price of Ethereum has soared more than 1,000%. And it’s already been adopted by such giants as Microsoft, IBM, and JPMorgan.
But the idea that the two are rivals is a misconception fanned by the media.
When Bitcoin prices fell sharply last month, I explained why I'm still bullish about this extraordinary new investment vehicle.
Back in December, I noted that Bitcoin prices had recently fallen as low as $455. From there prices rallied quickly and stabilized, finding key support in the $550 range.
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