Even with a significant run-up in 2023, the cryptocurrency market remains well off its peak valuation of $3 trillion in 2021. Investors just aren't as excited about the industry as they were just a couple of years ago, as higher interest rates and a softer macroeconomic backdrop make risky assets less attractive.
Recent regulatory actions by the Securities and Exchange Commission also cast a shadow over the industry's future.
Some of the most popular cryptocurrencies are also selling at steep discounts. Ethereum is 62% below its all-time high of about $4,900 in November 2021. Should investors buy the dip?
Source Fool.com