The world’s most heavily traded cryptocurrency plunged as low as $30,202 per coin from a high of nearly $44,000 in the past 24 hours, according to data from Coindesk. Bitcoin recovered slightly following the New York stock market open and was down 15% at around $37,280. Alongside bitcoin’s fall, several other major cryptos were down Wednesday. Ethereum plummeted below $2,000 per unit at its low before reclaiming some of its lost ground. Ether was down nearly 30% at $2,430 Wednesday morning…. Source link

You might have noticed that the price of bitcoin is going er, to da Earth. Over the past 24 hours it has fallen by about a third 40 per cent to just above $36,000, $34,000, $30,000 (although at this point we not only can’t keep up but also can’t even be sure because a number of price sources seem to be having issues pulling data — go figure). In fact, the whole of the crypto space is a bit of a bloodbath, to put it frankly. That darned technoking eh. Oh and China too… Source link

Text size David Gray/AFP/Getty Images Bitcoin plunged to its lowest level since February on Wednesday, hitting a low of $36,219, down 44% from an all-time high of $64,829 it reached just last month. All of the gains accrued since Tesla (ticker: TSLA) got involved with the cryptocurrency have now… Source link

Crypto markets have shifted from buy, buy to bye, bye bitcoin, in a nanosecond, and technicians say that the digital asset may have more room to fall in the near term as a monthslong bullish trend unravels. Prices for the world’s most popular digital asset had broken below a number of levels viewed as support for the asset, including $42,000. See: Crypto winter? Bitcoin lurches to lowest level in months and alts like dogecoin sink 48% from peak At last check,… Source link

The fear of missing out works in reverse too. Just ask anyone holding Bitcoin right now. No one likes watching others get rich, and when it happens it does something to investor psyches. That’s one reason investment bubbles form—money rushes into a sector playing catch-up, looking for a piece of the action. No longer. Bitcoin is down nearly $5,000 or 12%, breaking $40,000 in early Wednesday trading. It’s the tenth daily drop in the past two weeks of trading. The cryptocurrency is… Source link

Ethereum (CRYPTO:ETH) has been shattering records right and left. Over the past year, its price has soared by more than 1,600%. In the past month alone, it’s up nearly 50%, as of this writing. It’s even surpassed crypto king Bitcoin (CRYPTO:BTC), which has “only” increased 380% over the past year. If you’re itching to jump on the cryptocurrency bandwagon, you’re not alone. It’s hard to ignore returns like these, and many investors are scrambling to… Source link

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Bitcoin tumbled 14 per cent to its lowest level since early February after Chinese regulators intensified efforts to crack down on the use of cryptocurrencies by financial institutions. In a joint statement issued on the People’s Bank of China’s WeChat account, banking and internet industry associations said that financial and payment institutions should not accept cryptocurrencies as payment or offer services and products related to them. Virtual currency “is not a… Source link

Bloomberg China Puts Australia on Notice With Push to Diversify Iron Ore (Bloomberg) — Beijing threw the spotlight on trade tensions with its top commodities supplier, Australia, after the government’s economic planning agency said it’s looking to diversify China’s supply of iron ore.Chinese firms should boost domestic exploration for the steel-making input, widen their sources of imports, and explore overseas ore resources, the National Development and Reform Commission said at its… Source link

Follow us @crypto for our full coverage. Bitcoin took investors on a wild ride Wednesday, plunging as much as 29% before cutting the drop in half in a bout of selling that drew attention across Wall Street and social media. The extreme volatility in an asset known for its swings caused outages on major crypto exchanges and at one point brought Bitcoin’s market value down $500 billion from its peak last month. The tumult elicited a tweet from Elon Musk and… Source link