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Bitcoin plummets more than 10% in its biggest drop in months, just days after reaching a record high
Bitcoin plummets more than 10% in its biggest drop in months, just days after reaching a record high
Zahra TayebApr 18, 2021, 19:31 IST
Bitcoin climbed on Thursday morningSOPA Images/Getty Images
Bitcoin slipped 10.8% in the 24 hours to Sunday morning.
It was the biggest single-day drop since February, Bloomberg reported.
Reports attributed the drop to speculation the US Treasury may scrutinize digital currencies closer.
Bitcoin tumbled to its biggest single-day drop since February over Saturday, just days after reaching a record high, Bloomberg reported.
Bitcoin fell 10.8% in the 24 hours to Saturday 7am ET, from $61,396 to $54,750. At one point, it reached a low of $51,300 after it dropped more than $7,000 in a single hour, before partially recovering.
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Bitcoin hit the $1 trillion market cap milestone twice as fast as Amazon and three times faster than Apple, data shows
Bitcoin hit the $1 trillion market cap milestone twice as fast as Amazon and three times faster than Apple, data shows
Shalini NagarajanApr 14, 2021, 15:01 IST
Dado Ruvic/Reuters
Bitcoin took only 12 years to reach $1 trillion in market value, while Big Tech took much longer.
Data shows bitcoin s march towards its record peak was twice as fast as
Amazon s.
Apple took 42 years.
Bitcoin surged to a new all-time high above $64,000 on Wednesday ahead of Coinbase s market debut, in a rally that continues to be partly fueled by institutional buyers.
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Bitcoin has ridden a wave of momentum in recent months, with the digital asset climbing to over $52,000 per coin over the last few days according to coinmarketcap.com. This rise is incredible to see given that Bitcoin was valued at around $11,000 in September 2020 and was less than $1,000 in early 2017.
Bitcoin Vs Dollar Rate: Bitcoin was last up up 8.75 per cent at $57,107.2. Cryptocurrency bitcoin hit a market capitalization of $1 trillion as it surged to achieve yet another record high of $56,399.99 on Friday, February 19, continuing its bull stint fuelled by gaining further acceptance from mainstream investors and corporate majors. The world s most popular cryptocurrency surged to an all-time high, crossing the $57,000 mark on Saturday, posting a weekly gain of 18 per cent. It has surged nearly 70 per cent so far this month and was last up 8.75 per cent at $57,107.2. The digital currency countered analyst warnings that it is an economic side show and a poor hedge against a fall in stock prices.
Updated Feb 19, 2021 | 23:45 IST
On Friday bitcoin zoomed to its latest all-time pinnacle at $54,182 after a string of corporate giants embraced the digital unit. Bitcoin market hits $1.0 trillion in value
The total value of all bitcoin topped $1.0 trillion on Friday, capping a spectacular record-breaking week for the world s most popular cryptocurrency.
At about 1625 GMT, bitcoin zoomed to its latest all-time pinnacle at $54,182 after a string of corporate giants embraced the digital unit.
With more than 18.6 million bitcoins created since the digital currency was launched in 2009, the entire market is now worth $1.002 trillion, according to data provider Coinmarketcap.com. This is certainly big news for the industry and this would not have been possible without the involvement of smart money, said AvaTrade analyst Naeem Aslam.