The price of bitcoin is tanking nearly 10% today, tacking on to massive losses as bearish calls from regulators and analysts heighten after a huge surge fueled by still-booming institutional adoption
The world's largest cryptocurrency is down nearly 10% over the past 24 hours.
That's not stopping institutional players from diving further into the space: Investment giant BlackRockwith the Securities and Exchange Commission on Wednesday to include cash-settled Bitcoin futures as eligible investments for two of its funds.Crucial Quote
"Bitcoin is showing some vulnerability at the end of such a strong month: It was seeing some pressure at $34,000 Wednesday and has since buckled, making a run at $30,000 highly likely," noted Oanda Senior Market Analyst Craig Erlam Thursday morning."This level looks very vulnerable and a break below it is bad news in the near-term for bitcoin and cryptocurrencies in general," he added, before saying he'd be less surprised if prices plunge to $20,000 before they break new highs.
Big Number$926 billion. That's the current market value of all cryptocurrencies, according to CoinMarketCap. That's down nearly $200 billion following a record $1.1 trillion earlier this month, with nearly all the losses fueled by bitcoin.What To Watch For headtopics.comRead more: Forbes »
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Today has been fantastic! Even though there is a slight decrease in the USD due to the recent stimulus package, my money has increased in Canada and tremendously in Mexico! I am becoming wealthier in North America. cbrehmg lies Today has been fantastic! Even though there is a slight decrease in the USD due to the recent stimulus package, my money has increased in Canada and tremendously in Mexico! I am becoming wealthier in North America.
Big issue is how much pollution its production causes. How are things with the capitol now? if the threats of regulation from the new Admin on bitcoin haven't made you realize that the DNC does not support economic freedom then you're simply blind.