Bitcoin losing value

Continuing the declining trend, Bitcoin price today tanked 9. Other digital currencies, Ether and meme coins are witnessing similar drawdowns. Ethereum lost Solana dropped Shiba Inu had a massive drop of



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WATCH RELATED VIDEO: How A Teenager Lost All His Life Savings From Dogecoin

Global crypto market suffers $1-trillion loss as Bitcoin crashes


Continuing the declining trend, Bitcoin price today tanked 9. Other digital currencies, Ether and meme coins are witnessing similar drawdowns. Ethereum lost Solana dropped Shiba Inu had a massive drop of While there have been much larger percentage drawdowns for both Bitcoin and the aggregate market, this marks the second-largest ever decline in dollar terms for both, according to Bespoke Investment Group.

With the Federal Reserves' intentions rocking both cryptocurrencies and stocks, a dominant theme has emerged in the digital-asset space: cryptos have twisted and turned in nearly exactly the same way as equities have. Never miss a story! Stay connected and informed with Mint.

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Cryptocurrency buzz drives record investment scam losses

An already dramatic crash in the crypto markets has become yet more drastic, with bitcoin and other digital currencies losing hundreds of billions of dollars from their value. Bitcoin has now fallen Other coins have seen even more dramatic losses: ethereum is now down 25 per cent. That follows what was already the worst start of the year for bitcoin in history. Anyone that bought bitcoin at the start of the year has now seen it lose more than 23 per cent of its value, in just three weeks. Instead, it has dropped way below that, and continued to trade down.

Bitcoin's price enjoyed a bullish rise to near $70, in value in early November as investors hoped to see the cryptocurrency's $1 trillion market cap remain.

Beyond Bitcoin: Inside the insane world of altcoin cryptocurrencies

Thanks for contacting us. We've received your submission. As of Monday morning, bitcoin was trading at around 7. Crypto-adjacent stocks are also taking a hit from the market collapse. Other crypto-focused stocks like digital coin-mining firms Riot Blockchain and Marathon Digital were also hit with losses. January 24, am Updated January 24, pm. Getty Images Other crypto-focused stocks like digital coin-mining firms Riot Blockchain and Marathon Digital were also hit with losses. Share This Article. Post was not sent - check your email addresses! Sorry, your blog cannot share posts by email.


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bitcoin losing value

The biggest cryptocurrencies have had a rough few months. If you listened to Matt Damon's Crypto. At the time of writing , both bitcoin and ethereum were down by about 45 percent compared to their highs from last November; BNB was down 42 percent. Now, they may well go back up again at some point — crashes and recoveries have happened before many times. But it's an illustration of the incredible risk of cryptocurrency investment.

Enthusiasts will tell you it's the future of money - but investing in the notoriously volatile virtual currency can be a rollercoaster, and it's not without risk. The hunt for new coins, using powerful computers, is also causing a surge in energy demand - which is not so good for the environment.

Why is the cryptocurrency market down today?

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Don't lose your shirt in the Crypto Casino: Bitcoin crashes by half

While there have been much larger percentage drawdowns for both Bitcoin and the aggregate market, this marks the second-largest ever decline in dollar terms for both, according to Bespoke Investment Group. And the case for further caution was reinforced on Friday. Bloomberg News reported that the Biden administration is preparing to release an initial government-wide strategy for digital assets as soon as next month and will ask federal agencies to assessing the risks and opportunities they pose. Contact us at letters time. Representation of Bitcoin cryptocurrency is seen in this illustration photo taken in Krakow, Poland, on January 6, You May Also Like.

After losing more than 10% in value over the last seven days, the popular crypto currency has stabilised slightly, but what caused the drop.

Bitcoin Has Lost Half Its Value Since Hitting Record High

Many companies featured on Money advertise with us. Opinions are our own, but compensation and in-depth research determine where and how companies may appear. Learn more about how we make money. If you thought you could handle market volatility, Bitcoin's dizzying ups and downs are something else.


Why I will never buy Bitcoin (or any other cryptocurrency)

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The price of Bitcoin BTC has generally been declining since November, although the cryptocurrency's sharp price decline this week was likely triggered by rumors on Friday, Jan. Unidentified sources within the Biden administration said last week that the government is developing a strategy to address the economic, regulatory, and national security challenges posed by Bitcoin and other cryptocurrencies. The administration is reportedly also examining the opportunities created by the rise of digital assets, with the Biden administration's strategy potentially being made public as soon as February. This likely report from the administration, while welcomed by those who believe that Bitcoin can benefit from greater regulatory certainty, has triggered some traders to sell their Bitcoin holdings. The price of Bitcoin is also being affected by policy changes by the U.

This is a possible response to a few factors, including the Federal Reserve's December meeting, where the central bank indicated that it might start to reduce its balance sheet , dial back its monetary policy support and potentially raise interest rates. Though the current plunge might be jarring, this volatility isn't unusual for the cryptocurrency market.

Bitcoin Reaches 6-Month Low. Should You Buy?

January is traditionally a slow month for cryptocurrencies, but this year has been particularly tough so far for the entire market. The drop is being attributed to a few things. Firstly, cryptocurrencies usually drop on weekends. There are less people trading, which means that any big sell offs have more impact on the value. The biggest factor is that the Federal Reserve System, America's central banking system, is preparing to withdraw its pandemic stimulus to combat growing inflation.

Is crypto market in for long winter after latest bout of selling?

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