Why Ethereum Dragged the Crypto Market Lower This Week
Written by Emily J. Thompson, Senior Investment Analyst
Source: NASDAQ.COM
Market Performance: The crypto market experienced a decline this week, primarily due to disappointing Ethereum ETF launches in the U.S., leading to significant outflows and a drop in prices for Ethereum and other altcoins.
Blockchain Security Concerns: An attempted DDoS attack on the Cardano blockchain highlighted vulnerabilities within the network, raising questions about the demand for tokens beyond Bitcoin and emphasizing the need for real product development in the industry.
Analyst Views on BTC
Wall Street analysts forecast BTC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BTC is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
0 Buy
0 Hold
0 Sell
Current: 39.870
Low
Averages
High
Current: 39.870
Low
Averages
High
No data
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
