Tech culture. The fork of bitcoin’s underlying blockchain technology spawned a new cryptocurrency: Bitcoin cash. Subscribe Already registered? Published: February 8, UTC. Contributing regularly to CCN and Hacked. Flag comment Cancel.
Compare crypto currencies (Ripple, Bitcoin, Ethereum, LiteCoin) on value, market cap and supply for the past year
Bitcoin cratered Thursday, living up to its volatile reputation after hitting a month high a day earlier. It then fell sharply after U. The steep decline came at the same time as an outage on popular cryptocurrency trading platform Coinbase. He said a plungee driver» behind the price whiplash was leverage — borrowing money — to make a trade. As the prices went up, so did borrowing costs, which make it more expensive to make a bullish bet on bitcoin going up, Kelly said. Bitcoin has rfee marked by volatility in its year existence.
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The sharp drop in bitcoin prices has been reflected across the cryptocurrency markets, with all of the top 10 most-valuable digital currencies falling between 7 per cent and 13 per cent over the last 24 hours, according to CoinMarketCap. The study suggests that the highs of late were artificially inflated by traders manipulating the market. Despite the latest price crash, some enthusiasts remain optimistic that bitcoin’s value will rebound. You can find our Community Guidelines in full here. Want to discuss real-world problems, be involved in the most engaging discussions and hear from the journalists?
The Slippening: Market Plunges Below $120 Billion
Bitcoin cratered Thursday, living up to its volatile reputation after hitting a month high a day earlier. It then fell sharply after U. The steep decline came at the same time as an outage on popular cryptocurrency trading platform Coinbase. He said a «key driver» behind the price whiplash was leverage — borrowing money — to make a trade.
As the prices went up, so did borrowing costs, which bitcoin in free fall as price plunges it more expensive to make a bullish bet on bitcoin going up, Kelly said. Bitcoin has been marked by volatility in its year existence. That and its high transaction costs have largely kept it from being used as an everyday payment method.
Instead, it’s seen by some backers as a store of value, or «digital gold. Analysts have attributed bitcoin’s recent price bump to more awareness of the digital asset class and interest from professional investors. Sign up for bitcoin in free fall as price plunges newsletters and get more CNBC delivered to your inbox. Get this delivered to your inbox, and more info about our products and services.
All Rights Reserved. Data also provided by. Skip Navigation. Markets Pre-Markets U. Key Points. The plunge began at the same time as an outage on popular bitcoin trading platform Coinbase.
Analysts say a key driver behind the price whiplash is too much leverage, or borrowing money to make a cryptocurrency trade. VIDEO Bitcoin prices plunge after surging — Here’s what five experts say about the digital currency. Related Tags. Trending Now. News Tips Got a confidential news tip? We want to hear from you. Get In Touch. CNBC Newsletters. Market Data Terms of Use and Disclaimers.
The Slippening: Market Plunges Below $120 Billion
Author: Joseph Young iamjosephyoung. US Edition. He has written over 2, articles since joining CCN in Bitcoin has struggled to break out of key resistance levels or drop below crucial support levels, demonstrating a stalemate for well over three weeks. US Politics. The study suggests that the highs of late were artificially inflated by traders manipulating the market. He lives in rural Virginia. Update newsletter preferences. Robert Sluymer, a Fundstrat Global Advisors market strategist, said :. Log in using your social network account. Join the discussion. Despite the latest price crash, some enthusiasts remain optimistic that bitcoin’s value plungse rebound.
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