Market Cap
24h Vol
20371
Cryptocurrencies
60.2%
Bitcoin Share

Bitcoin tests $30K level as cryptocurrency after dropping from $40K

Bitcoin tests $30K level as cryptocurrency after dropping from $40K


Seeking Alpha
2021-05-19 13:52:02
Bitcoin tests $30K level as cryptocurrency after dropping from $40K

Bitcoin (BTC-USD) drops as low as $29.7K, but recovers to ~$35.8K, according to CryptoCompare data, as cryptocurrency continues to face pressure from several fronts.The largest crypto by market cap sank below $40K overnight.Ether slides 27% to ~$2,454."It felt like we had capitulation this morning," Galaxy Digital founder and CEO Mike Novogratz said on CNBC."Humpty Dumpty never gets put back together in two days when he cracks. It's going to take a while," he added, noting that it will "find a bottom somewhere — I'm hoping it's close to here."Perhaps the bottom was found. MicroStrategy's (MSTR) Michael Saylor tweets that he acquired 111K bitcoins.Meanwhile, there are a slew of crypto-related stocks also enduring the pain in premarket trading — Galaxy Digital (BRPHF) -11%, Silvergate Capital (SI) -10%; Riot Blockchain (RIOT) -12%, MicroStrategy -12%, Marathon Digital (MARA) -12%, crypto exchange Coinbase (COIN) -8.7%.And don't forget the fintechs that now allow users to buy,

Most Read News

Related News


Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.