RATE Group | Bitcoin crashes 15% to below $8,000 for first time since June
63101
post-template-default,single,single-post,postid-63101,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin crashes 15% to below $8,000 for first time since June

25 Sep Bitcoin crashes 15% to below $8,000 for first time since June

Posted at 03:44h in Cryptocurrency News by

[ad_1]

Omar Marques | LightRocket | Getty Images

Bitcoin plunged to its lowest level since June on Tuesday.

The world’s most popular cryptocurrency fell as much as 15% to a low of $7,944.33, according to industry site CoinDesk. That marks bitcoin’s lowest level in four months, and first time below $8,000 since mid-June.

Analysts pointed to a number of reasons for the dip, including the cryptocurrency breaking a key resistance level. Brian Kelly, CEO of BKCM, told CNBC that $9,000 was a “major support” level — when bitcoin broke broke below that, a “wave of selling” was triggered.

The price plunge comes days after the Intercontinental Exchange, parent company of the New York Stock Exchange, launched its bitcoin futures contracts as a way to usher in investors who have been hesitant about trading cryptocurrency. Those futures are “physically deliverable,” meaning they pay out in bitcoin instead of those from ICE competitor CME Group, which introduced its own futures contracts two years ago…

[ad_2]

Source link

Tags:
, , , , ,