The value of leading cryptocurrency Bitcoin tumbled 20 percent Monday, wiping out some of the huge gains racked up in recent weeks as financial markets became more cautious.
The virtual currency fell to $31,061.83 according to the Bloomberg financial news service, a level last seen in March 2020 as the coronavirus pandemic sparked panic around the world.
The cryptocurrency last week smashed record after record, at one point surging past $40,000.
Tech shares also felt the fallout from last week’s US political upheaval after social media platforms pulled the plug on US President Donald Trump.
“Investors are hitting the pause button with the relentless buying of US stocks as big-tech’s actions following the mayhem at the Capitol drags sentiment down,” commented Edward Moya at the online brokerage Oanda.
Read more at i24NEWS.
{Matzav.com}
Oh that’s too bad. I have a bunch of them in my pocket right now. I was planning on going shopping tommorow and using them. I wonder if they’ll give me change in the bagel store?
I’m so sick of this duplicitous journalism. BTC has been growing tremendously for the past year, with a steady increase, and healthy growth. Now it had a relatively small dip (which it has already begun regaining from), and the media suddenly start reporting on it, and making a fuss about the dip. They do the same with all the news and politics these days. Ridiculous.
I’m not hiding anything up my sleeves here. Check it out for yourselves:
https://www.xe.com/currencycharts/?from=XBT&to=USD&view=1Y
Bitcoin will come down completely along with the Chinese markets, once the Chinese military companies will be out, as per Trump’s EO on Nov 12, 2020.