Weekly Comic: Despite a week of heavy losses, cryptocurrencies are here to stay

Weekly Comic: Despite a week of heavy losses, cryptocurrencies are here to stay

Investing.com - Cryptocurrencies such as Bitcoin and Ethereum have struggled to make gains as of late, as ongoing chatter of a bubble and fears that they are facing a period of correction after recent record rallies weighed.

Bitcoin was at around the $2,380-level on Thursday, well off its all-time high close to $3,000 touched last month, amid several warnings from analysts that the digital currency has peaked for the time being.

Despite recent losses, it is still up nearly 150% year-to-date.

Meanwhile, Ethereum prices slipped below $200 for the first time in more than a month this week.

The digital currency is on track to notch its fourth weekly loss in a row, with prices down almost 55% since peaking at an all-time high close to the $400-level in mid-June.

However, despite the declines, the price of ether remains substantially higher over the course of the year. Ethereum has risen more than 2,000% from around $8 at the beginning of January.

While analysts remain mixed over the future price direction of cryptocurrencies, most seem to agree that they are here to stay in the long-run.

To see more of Investing.com’s weekly comics, visit: http://www.investing.com/analysis/comics