Bitcoin tumbles more than 50 per cent below its all-time high as crypto plunges again indeed
Posted: Tue May 10, 2022 1:20 am
https://www.ctvnews.ca/business/bitcoin ... -1.5895322
So much for bitcoin being so-called "digital gold."
The world's most valuable cryptocurrency was down 10 per cent Monday after plunging again over the weekend. Bitcoin prices have now plummeted nearly 20 per cent in the past week. At a price of just below US$31,000, bitcoin is more than 50 per cent below its record high of near US$69,000 from late last year and at its lowest point since July 2021.
Other cryptocurrencies, sometimes referred to as altcoins, have been hit hard too. Ethereum, binance, solana and cardano are all down about 15 per cent in the past week, while Elon Musk's beloved dogecoin has tumbled 10 per cent.
So much for bitcoin being so-called "digital gold."
The world's most valuable cryptocurrency was down 10 per cent Monday after plunging again over the weekend. Bitcoin prices have now plummeted nearly 20 per cent in the past week. At a price of just below US$31,000, bitcoin is more than 50 per cent below its record high of near US$69,000 from late last year and at its lowest point since July 2021.
Other cryptocurrencies, sometimes referred to as altcoins, have been hit hard too. Ethereum, binance, solana and cardano are all down about 15 per cent in the past week, while Elon Musk's beloved dogecoin has tumbled 10 per cent.