Cryptocurrency price

Checking Cryptocurrency Prices: Bitcoin, Ethereum, Dogecoin Rising

Cryptocurrency prices rose on Monday, reversing last week’s drop.

Bitcoin, the world’s largest cryptocurrency, rose 5.8% to $ 37,720 in pre-market trading. Ethereum rose 5.7% to $ 2,408, while Dogecoin rose 5.8% to 34 cents, according to Coingecko.

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Cryptocurrency prices fell last week following a statement by the People’s Bank of China that digital coins were not “real currencies” and amid a general market downturn.

China reiterated its call for a crackdown on Bitcoin mining and trading, as the world’s second-largest economy sought to avoid financial instability.

Meanwhile, Coinbase Global (PIECE OF MONEY) Shares climbed nearly 3% on Monday after Goldman Sachs analysts launched coverage of America’s largest cryptocurrency exchange with a buy rating and a price target of $ 306.

In a research note, analyst Will Nance described Coinbase as “a leading consumer platform with strong customer acquisition trends as well as a robust and rapidly growing institutional business.”

Wedbush analysts last week launched a Coinbase hedge with an outperformance rating and a price target of $ 275.

Coinbase shares were hit hard last week amid all the cryptocurrency turmoil.

JPMorgan analysts said on Friday that “it was too early to call an end to the recent downtrend in Bitcoin” according to Bloomberg. The investment firm partly cited signals of momentum and a lack of buying Bitcoin funds and regulated futures.

You’re here (TSLA) – Get the Tesla Inc report Chief Executive Officer Elon Musk has had a major influence on Bitcoin.

Musk said last week that Tesla will no longer accept Bitcoin as a payment method for its vehicles due to the carbon footprint of Bitcoin mining activity. He hasn’t said anything about the carbon footprint of his rocket company, SpaceX.

Musk recently tweeted that he was working with dogecoin developers to develop more efficient transactions.

A number of analysts have said that many more companies are unlikely to want to accept Bitcoin as a form of payment for their goods and services, given the cryptocurrency’s roller coaster ride since its inception in 2009.

Jim Cramer of TheStreet said it was time for the Securities and Exchange Commission to consider cryptocurrency “an asset that deserves to be regulated.”

In his Real money column, Here’s how we’re ending the crypto madnessCramer said “it is imperative that Yellen or Gensler say they are uncomfortable with all the leverage they see in the crypto markets.” He referred to Treasury Secretary Janet Yellen and Securities and Exchange Commission Chairman Gary Gensler.

Cramer tweeted that he wanted “real crypto bulls to clean up the house and discredit crypto jokes.”

“The world is divided between people who believe in crypto and those who don’t, and I think that’s wrong,” Cramer said.

“It should be split between people who don’t believe in it and people who believe in crypto, but not all cryptos, because some cryptos are just jokes.”

If you make some of them jokes, Cramer added, “that’s good because you drive out all the jokes.”

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