Comment on Bitcoin Extends Slide, Has Fallen More Than 50% From Record High

Bitcoin Extends Slide, Has Fallen More Than 50% From Record High

Bitcoin, the largest digital asset, extended its decline Saturday, and has now shed more than 50% from its record high in November.Bitcoin’s decline since hitting the record has wiped out more than $600 billion in market value, and over $1 trillion has been lost from the aggregate crypto market. 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 Fed’s 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.Bitcoin fell as low as $34,042 Saturday, a drop of 7.2%.

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News