RATE Group | Here’s Why Bitcoin Is Plunging Today
54637
post-template-default,single,single-post,postid-54637,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
 

Here’s Why Bitcoin Is Plunging Today

17 Jul Here’s Why Bitcoin Is Plunging Today

Posted at 05:03h in Bitcoin News by

[ad_1]

What happened

Bitcoin (BTC-USD) and most other cryptocurrencies are under pressure on Tuesday, continuing a multiday downward trend. The leading cryptocurrency lost 14% of its value over the 24-hour period that ended at 3 p.m. EDT, and is trading 23% lower than it was a week ago. Bitcoin is now trading below the key $10,000 level.

As would be expected, bitcoin-linked investments such as the Greyscale Bitcoin Trust (NASDAQOTH: GBTC) were trading lower by similar percentages.

Bitcoin in palm of businessman’s hand.

So what

Regulatory uncertainty has been a driving force behind some of bitcoin’s sharpest downward moves, and this time, the murkiness comes from right here in the United States.

In response to Facebook’s (NASDAQ: FB) plans to spearhead the release of the Libra cryptocurrency, several high-profile government officials have spoken out about the dangers of cryptocurrencies.

President Trump recently denigrated them, describing them in a tweet as assets “which are not money, and…

[ad_2]

Source link

Tags:
, , ,