Digital currency under pressure from payment crackdown and tweets from Elon Musk
The price of bitcoin fell by almost 30% on Wednesday, after a Chinese government crackdown on banks and payment firms use of cryptocurrencies accelerated a long-predicted sell-off.
The world’s largest digital currency tumbled to almost $30,000 (£21,000) amid frenzied trading , a drop of over 50% since it hit record highs of over $64,000 in mid-April. However, by 4pm UK time, the bitcoin price had risen back to around $37,000, still down 15% on the day.
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Digital currency under pressure from payment crackdown and tweets from Elon Musk
The price of bitcoin fell by almost 30% on Wednesday, after a Chinese government crackdown on banks and payment firms use of cryptocurrencies accelerated a long-predicted sell-off.
The world’s largest digital currency tumbled to almost $30,000 (£21,000) amid frenzied trading , a drop of over 50% since it hit record highs of over $64,000 in mid-April. However, by 4pm UK time, the bitcoin price had risen back to around $37,000, still down 15% on the day. Continue reading…Technology | The Guardian