There are thousands of altcoins on the crypto market that are smaller, cheaper, younger and less sophisticated than the blue-chip bitcoin.
"It has not been alone … crypto coins across the board have exploded higher in recent weeks.
The riskiest business At the furthest end of the risk spectrum are meme coins like dogecoin , whose trading ballooned after the election .
"I'd urge long-term investors to not place too much emphasis on meme coin activity — easy come, easy go," said Ryan Rasmussen, an analyst at Bitwise Asset Management.
"While meme stocks such as Gamestop and AMC are a small part of the equity market, meme coins are a larger part of the crypto market and represent an outsized share of volume."
Persons:
Gary Gensler, They've, bitcoin, Wolfe, Rob Ginsberg, it's, Mike Novogratz, Wolfe's Ginsberg, Donald, they've, Ryan Rasmussen, Zach Pandl, John Todaro, Robinhood, — CNBC's Michael Bloom
Organizations:
Securities and Exchange Commission, Trump, Galaxy Digital, Solana, Bitwise Asset Management, lotto, Grasycale Investments, Gamestop, AMC, Robinhood
Locations:
overbought, bitcoin