Investing.com – Bitcoin and Ethereum pared losses on Wednesday, after falling to session lows amid growing investor fears of further selling pressure in both cryptocurrencies.
On the U.S.-based GDAX exchange, BTC/USD rose to $2,605.1, up $34.6, or 1.35% while Ethereum added 1.99% to $272.81.
Growing investor fears that bitcoin could come under further selling pressure have continued to dominate trading moves in the digital currency since it fell from its peak of $,3000 achieved in June, as analysts warn that a correction is likely before a new peak is established.
Sheba Jafari, the head of technical strategy at Goldman Sachs, said last week that a correction period in bitcoin "shouldn't go much further than 1,857" but added that “there’s potential to extend as far as 3,915”.