Bitwise Asset Management chief investment officer Matt Hougan shares his outlook for cryptocurrency performance amid tensions in Eastern Europe.<\/p>\n
Bitcoin's price was around $38,000 Friday morning, clawing back from a plunge triggered by Russia's invasion of Ukraine.<\/p>\n
The drop in the cryptocurrency's price bottomed out Thursday morning around $35,000.<\/p>\n
GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/u><\/strong><\/p>\n Bitcoin climbed back above $38,000 by the afternoon.<\/p>\n Heading into Friday, Bitcoin traded higher in two of the past three days, but remains off fractionally for the month and down more than 17% year-to-date.<\/p>\n Shares of Coinbase Global fell more than 3% in after-hours trading Thursday after the cryptocurrency exchange warned that growth would slow in the current quarter.<\/p>\n Coinbase reported trading volumes jumped more than 67% to $547 billion in the quarter, with retail trading accounting for 32% of volumes and crypto assets contributing 68% to total trading, according to Reuters.<\/p>\n CLICK HERE FOR FOX BUSINESS' REAL-TIME CRYPTOCURRENCY PRICING DATA <\/u><\/strong><\/p>\n "The sequential increase in retail Trading Volume was driven primarily by higher levels of volatility as well as strong consumer interest in a wider variety of crypto assets," according to a company statement.<\/p>\n Coinbase said it believes that retail monthly transacting users and total trading volume will both be lower in the current quarter when compared to a year ago.<\/p>\n For the fourth quarter, Coinbase had net income of $840 million, or $3.32 per diluted share, on net revenue of $2.5 billion,.<\/p>\n\n\n
\n \nTicker<\/th>\n Security<\/th>\n Last<\/th>\n Change<\/th>\n Change %<\/th>\n<\/tr>\n<\/thead>\n \n COIN<\/td>\n COINBASE GLOBAL INC.<\/td>\n 179.56<\/td>\n +6.82<\/td>\n +3.95%<\/td>\n<\/tr>\n \n <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n