Is The Game Over For Bitcoins? What a roller-coaster ride it has been for Bitcoins, the best known of the cryptocurrencies. Back on March 9 th , 2020, just as the Covid pandemic was emerging, Bitcoin traded as low as 5,385.23. A bit more than 18 months later, that price soared almost a dozen times higher to 68,789.25. A number of other cryptocurrencies also had major gains. Things have changed. From the peak of last November, Bitcoin has dropped by nearly two-thirds. Ethereum, another fantasy currency, had an even more exciting ride, zooming almost 50 times from early March, 2020 to the high reached on Halloween last year, followed by a plunge similar to that of the Bitcoin. There are numerous other cryptocurrencies, most of which seem to have been created by those who specialize in science-fiction. Here are some of the more amusing names: Polkadot, Avalanche, Chiliz, Helium, Fantom, PancakeSwap, and Basic Attention. Cryptocurrencies are digital assets
Investment and economic observations by N. Russell Wayne, CFP, MBA. Mr. Wayne is the president of Sound Asset Management, inc. and former Managing Editor of The Value Line Investment Survey.