$104,651.00
-0.31%$2,521.10
-0.02%$2.16
-0.12%$645.08
0.08%$145.87
-0.17%$0.999765
-0.00%$0.274749
0.25%$0.169537
-0.70%$2,521.54
0.05%$0.599669
-0.42%$104,565.00
-0.25%$36.59
-5.00%$3,034.76
-0.29%$493.13
7.40%$2.81
-0.98%$13.03
-0.97%$9.01
-1.83%$0.248948
-1.15%$18.03
-0.28%$2.96
0.28%$49.39
-0.27%$0.999757
-0.00%$0.00001155
-0.72%$2,521.83
-0.03%$2,698.41
-0.02%$84.91
-0.23%$0.999021
-0.02%$0.146947
-0.62%$308.80
-2.29%$1.00
0.02%$3.52
-2.11%$4.28
-0.95%$104,680.00
-0.31%$7.62
-0.12%$0.00001017
-1.73%$0.538298
0.57%$255.73
-1.48%$54.23
11.16%$1.18
-0.01%$349.09
-3.05%$1.00
0.00%$0.090406
-0.27%$4.38
-1.79%$5.05
0.12%$2.15
-1.86%$176.74
-0.14%$1.056
0.01%$16.63
0.49%$0.767129
-1.37%$29.32
-0.32%$1.00
0.15%$0.629163
3.08%$16.75
7.88%$4.43
0.43%$9.29
-1.20%$0.02157054
-1.02%$0.069653
-2.99%$4.02
0.17%$104,344.00
-0.12%$0.673906
0.02%$0.28284
-1.23%$0.079398
-3.93%$0.188181
-0.65%$3.15
-3.92%$2.35
-1.33%$0.999898
-0.09%$2,519.51
-0.03%$0.928234
-1.58%$0.996706
-0.19%$4.37
-0.13%$0.299976
-2.96%$0.999623
-0.01%$0.167671
-1.25%$97.44
-3.29%$11.07
0.13%$154.40
-0.02%$1.21
-0.81%$1.30
-10.77%$0.01785122
2.12%$0.401487
-2.74%$2,872.20
0.03%$2,640.78
-0.08%$0.200041
9.30%$11.30
-2.33%$0.00001423
-0.74%$1.62
-4.00%$1.66
-1.81%$0.185424
6.94%$1.04
-6.65%$0.999858
-0.02%$0.317921
-2.01%$0.999453
0.02%$0.568827
0.76%$0.629585
1.75%$0.01487285
-4.14%$0.999528
-0.03%$0.057971
0.60%$2,700.11
-0.16%$2,644.35
-0.09%$104,373.00
-0.34%$2.98
5.23%$644.29
-0.09%$104,624.00
-0.28%$3,373.13
-0.54%$2,650.82
-0.09%$3,359.01
-0.46%$0.083455
-1.33%$105,635.00
-0.09%$0.507854
-0.58%$0.580879
-3.49%$1.11
0.03%$0.790527
-0.70%$2.27
-3.80%$0.404544
-1.77%$163.24
0.02%$0.880037
-5.43%$190.01
-0.13%$0.00007399
-1.89%$2,725.63
-0.03%$111.48
0.00%$2.20
-1.46%$0.771442
-1.64%$0.676477
-1.49%$41.54
-0.57%$0.998847
-0.05%$19.62
-1.51%$0.01418119
-1.90%$32.06
4.83%$3.91
3.07%$1.092
-0.19%$0.16369
-0.97%$0.253268
-0.75%$0.99763
-0.03%$0.01238189
-3.30%$0.0000006
-3.86%$104,147.00
-0.00%$0.434779
-1.23%$0.00929391
-2.66%$2.16
-9.35%$0.999734
-0.01%$0.096951
-2.82%$0.530991
-1.14%$2,521.61
0.03%$0.549898
0.44%$104,223.00
-0.29%$0.343143
-1.14%$0.206149
-0.26%$2,522.05
0.01%$36.54
-5.02%$2,628.69
-0.02%$2,698.61
-0.00%$0.479861
-8.16%$104,595.00
-0.20%$2,521.86
-0.03%$0.621369
-2.56%$0.997991
0.30%$1.40
-2.03%$0.252929
-0.90%$8.47
-0.72%$50.72
0.58%$0.0135575
-5.82%$2.46
6.82%$0.407487
-0.80%$0.06076
-0.81%$0.17001
-0.37%$36.47
-5.16%$0.999686
-0.01%$0.04243738
-3.26%$1.00
-0.01%$0.999875
0.01%$0.00000042
0.79%$37.46
-0.06%$1.091
0.01%$2,512.24
-0.06%$1.004
1.06%$0.503695
-0.98%$5.58
1.57%$1.27
-6.21%$0.00001963
4.93%$1.006
0.46%$13.61
-0.89%$0.384787
-2.27%$2,669.49
-0.32%$1.31
-9.02%$0.318585
0.53%$0.00405746
-2.52%$0.00640993
0.07%$0.990641
-1.83%$0.072976
-0.26%$0.110554
-3.60%$0.508996
-0.27%$1.19
-2.86%$0.370627
-1.32%$2.24
-0.32%$0.00407254
-1.58%$2,778.56
-0.09%$5.30
-3.61%$1.41
-0.91%$0.03517796
-0.45%$0.00000086
-3.20%$0.01751139
-0.16%$0.129816
-0.75%$0.160978
1.09%$2,755.16
-0.04%$0.03362682
2.09%$0.33317
-1.97%$0.0033118
-5.46%$0.131675
-1.13%$104,843.00
0.05%$2,519.96
-0.07%$104,485.00
-0.17%$0.03229214
-6.89%$19.49
-0.44%$1.00
0.02%$0.998905
-0.02%$158.71
-0.12%$0.00005736
-0.85%$0.997807
-0.09%$0.0000015
-0.17%$0.73246
-2.28%$0.466271
-1.04%$1.12
-1.13%$2,513.44
-0.23%$0.999745
-0.02%$0.00355578
-0.36%$0.063555
-2.00%$0.729191
0.67%$110.47
-1.31%$0.997911
-0.29%$0.288962
-4.41%$104,672.00
-0.15%$18.04
-0.11%$0.613611
-3.01%$1.014
-0.03%$9.34
0.85%$0.00525614
-1.72%$1.70
0.59%$0.188158
-0.66%$0.593592
-2.12%$101,686.00
-1.08%$2,101.90
-0.29%$0.186419
-2.59%$6.17
0.01%$102,921.00
3.63%$0.00364059
-3.38%$0.414938
-0.61%$0.01609925
-4.11%$0.487408
0.91%Reading
The price of Bitcoin has dropped 20% for the past two days running, falling from $9,000 to as low as $4,100. It’s currently back up to $5,400 but it’s changing rapidly.
Such declines are not unheard of in the crypto industry but these large back-to-back losses are fairly rare, even for Bitcoin. So, what caused them?
The main cause appears to be the crash of the traditional markets. US stocks fell into a bear market on Thursday, as all major indexes fell a further 10%.
“This is obviously a knock-on effect from the sell off we’ve seen on the traditional stock markets, while even so-called safe haven assets like gold have seen their values drop,” eToro analyst Simon Peters said, in a daily email update.
I've never seen anything like this in my fucking life pic.twitter.com/T5dg8cmYDs
— Flood [BitMEX] (@ThinkingUSD) March 12, 2020
“As governments across the world impose drastic public restrictions to halt the spread of the virus and financial authorities struggle to implement measures to limit the economic impact of COVID -19, investors are clearly feeling overwhelmed with bad news,” he added.
Galaxy Digital founder Mike Novogratz explained that, as a result, investors lost confidence in Bitcoin. “Bitcoin was always a confidence game. All crypto is. And it appears global confidence in just about anything has evaporated. What brings it back to Bitcoin,” he tweeted.
$btc was always a confidence game. All crypto is. And it appears global confidence in just about anything has evaporated. What brings it back to $btc.
— Michael Novogratz (@novogratz) March 13, 2020
Bitcoin bear Peter Schiff used the decline to argue that Bitcoin was worthless anyway. “With Bitcoin crashing below $4,000 I don't feel so bad about having lost all my Bitcoin. At the rate my lost Bitcoin are losing value soon the difference between having Bitcoin and not having any Bitcoin will be too small to matter,” he tweeted.
Euro Pacific Capital CEO Peter Schiff has commented on the declining price of Bitcoin over the last few days. The stockbroker is well known for being bearish on Bitcoin and the recent price crash has added fuel to the fire. “As Bitcoin crashes below 7K hodlers going down with the ship can no longer take comfort in Bitcoin still being up for the year. As the air continues to come out of this bubble, the faithful will always be able to point to a past date from which the price of Bitcoin is still...
As usual, when there’s a market crash people look to Bitcoin futures exchange BitMEX. On Wednesday, $750 million was liquidated on BitMEX when the price dropped. In the last 24 hours, $922 million was liquidated, according to data site DataMish.
Some traders argued that, when the price went down, it started triggering all these liquidations, causing further price losses.
When discussing the recent price drop, Blockstream CEO Adam Back told Decrypt, “There were also some other factors like a large long squeeze on BitMEX and other Bitcoin derivative platforms.”
A Bitcoin miner has discovered an old Bitcoin wallet containing a small fortune—worth $8 million. According to a post on Bitcoin forum BitcoinTalk, a self-proclaimed Bitcoin "newbie" mined some Bitcoin using a personal computer back when it was possible to do so—before massive mining rigs took over. It appears they stumbled across the coin only recently and took to BitcoinTalk to find out what to do with the massive stash. 2010 wallet moving coins https://t.co/gSFn1ypESD pic.twitter.com/8rt0lGB...
On top of that one lucky Bitcoin miner found an old wallet with 1,000 BTC on it—that he mined in 2010—worth $8 million. While this won't have had a large effect on the market, it seems that he sold it, adding to the downwards pressure.
Altcoin Hyperliquid was recently down more than 6% over the past 24 hours, the poorest performer among the 100 leading cryptocurrencies by trading volume in Thursday trading. HYPE fell below $36 at one point, its lowest level in 10 days, and well off its all-time high of $45.59 set just three days ago, according to crypto data provider CoinGecko. The token of the Hyperliquid decentralized exchange remains up more than 40% over the past 30 days, a result at least partly of its dominant position...
When most healthcare companies discuss digital transformation, they typically mean electronic medical records or telemedicine platforms. But for Prenetics Global Limited, a publicly-traded health sciences firm, going digital meant something entirely next level: a $20 million Bitcoin treasury strategy that adds its name to a growing list of companies adopting a Bitcoin acquisition strategy. The Nasdaq-listed genomics and digital health company disclosed Wednesday that it has acquired 187.42 BTC...
A startup has raised $6 million in a seed round to protect Bitcoin from quantum computing. Project 11, which focuses on quantum computing's hypothetical threat to the leading crypto network, announced the raise Thursday, which was co-led by Variant and Quantonation, and included participation from venture capital firms Castle Island Ventures, Nebular, and Formation. The firm said that quantum computing is a threat to Bitcoin so "every wallet, every account holder, every smart contract key—all...
