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HomeCryptocurrencyWeekly summary of cryptocurrency news and prices for November 18, 2022

Weekly summary of cryptocurrency news and prices for November 18, 2022

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Cryptocurrency prices ended the week roughly where they started, holding above the lows as the fallout from FTX continued to materialize. The results showed that Bitcoin and Ethereum effectively recovered from the hit caused by the Genesis Global bankruptcy rumors. Scroll down to catch up on the top crypto headlines of the week.




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Be sure to also check out this week’s coverage of cryptocurrency ETFs like BITQ, BLOK, and BITS.

Click here for the latest cryptocurrency prices and news. And if you’re new to the world of Bitcoin, Ethereum, blockchain, and more, check out our What Is Cryptocurrency page.

cryptocurrency price action

Bitcoin briefly broke above $16,500 again on Friday afternoon, above Monday’s low and narrowing the gap to its recent short-term high of Nov. 10. The world’s largest cryptocurrency plunged to two-year lows on Monday on renewed fears that liquidity contagion could affect other players. Bitcoin had traded above $21,000 earlier in the month, prior to the crash of crypto exchange FTX.

Ethereum broke above $1,200 on Friday, up more than 11% from Tuesday’s low and around 10% from the November 10 high. An alleged hacker transferred $477 million worth of cryptocurrency from FTX on Nov. 12 and exchanged it for Ethereum, according to Blockchain analytics firm Elliptic. The hacker started downloading the Ethereum for Bitcoin on Mondaysending the lowest price.

Cryptocurrency price heat map:

Investments in digital assets are extremely volatile. While the fundamentals and technical indicators of cryptocurrencies may differ, investors should focus on the same key objectives. First, keep yourself protected by learning when it’s time to sell, cut losses, or capture profits. Second, be prepared to profit if the cryptocurrency starts to rally.

Despite their original promise, cryptocurrencies have not acted as a hedge against inflation. Instead, they have shown a trend with the broader indices. Read The Big Picture and Market Pulse to follow daily market trends.

See IBD’s Best Cryptocurrency and Cryptocurrency Stocks to Buy and Watch page to help you navigate the world of digital asset investing.

Want a deeper dive into crypto? Take a look at What is cryptocurrency? explanatory page.

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